Everspin Technologies, Inc. (NASDAQ:MRAM) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement
Lease Amendment
On March22, 2017, Everspin Technologies, Inc. (the Company)
entered into an Amendment No.5 to Lease (the Fifth Amendment)
with Freescale Semiconductor, Inc. (Freescale), effective
January13, 2017, to amend certain provisions of the Lease by and
between the Company and Freescale, dated June5, 2008, as
previously amended (the Original Lease).
The Fifth Amendment (i)extends the term of the Original Lease
through January28, 2019, (ii) amends the premises covered by the
Original Lease to remove laboratory space, decrease fabrication
space and expand office space, and (iii)changes the total annual
rental rate to $821,342, to increase 4% on June7, 2017 and each
anniversary thereafter.
The foregoing description of the Fifth Amendment is a summary, is
not complete, and is qualified in its entirety by the terms and
conditions of the actual Fifth Amendment, which is attached
hereto as Exhibit 10.1 and incorporated herein by reference.
Item9.01 Financial Statements and Exhibits.
(d) Exhibits
|
Exhibit No. |
Description |
|
| 10.1 |
Amendment No.5 to Lease, dated as of March22, 2017 by and between the Company and Freescale Semiconductor, Inc. |
About Everspin Technologies, Inc. (NASDAQ:MRAM)
Everspin Technologies, Inc. is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology. The Company’s MR10Q010 Quad SPI MRAM is a memory solution for applications that store and retrieve data and programs. Its DDR3 DRAM Compatible MRAM – Spin Torque Technology is designed to comply with all DDR3 DRAM features, such as on-device termination (ODT) and internal ZQ calibration. Its family of both parallel asynchronous input/output (I/O) and serial peripheral interface (SPI) products in densities ranging from 256 kilobyte (Kb) to 16 megabyte (Mb) is available in die form. Everspin Technologies, Inc. (NASDAQ:MRAM) Recent Trading Information
Everspin Technologies, Inc. (NASDAQ:MRAM) closed its last trading session up +0.05 at 7.70 with 24,831 shares trading hands.