HAEMONETICS CORPORATION (NYSE:HAE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On December 18, 2018, Haemonetics Corporation (the “Company”) entered into an office lease agreement (the “Lease”) with OPG 125 Summer Owner (DE) LLC (“Landlord”) for 62,066 rentable square feet of space located at 125 Summer Street, Boston, MA (the “Premises”). The Premises will serve as the Company’s new corporate headquarters and replace its existing location in Braintree, MA.
The term of the Lease is 152 months (including an initial 8 month free-rent period beginning on October 1, 2019) and will commence on the date that Landlord has substantially completed construction of the Premises’ warm shell and all tenant improvements, which is currently targeted as October 1, 2019. The Company has options to extend the initial term of the Lease for two additional five-year periods. Landlord has agreed to provide a tenant improvement allowance towards leasehold improvements, and the Company will be responsible for the cost of tenant improvements that exceed such allowance.
In addition to base rent, the Company will be responsible for certain operating expenses specified in the Lease, including a proportionate share of real estate taxes and other customary costs incurred by Landlord. The Lease also contains customary default provisions allowing the Landlord to terminate the Lease if the Company fails to cure certain breaches of its obligations under the Lease within a specified period of time. In addition, the Company will be obligated to indemnify the Landlord for certain losses incurred in connection with the Company’s use and occupancy of the Premises.
The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which will be filed with the Company’s Quarterly Report on Form 10-Q for the quarterly period ending December 29, 2018. A copy of the Company’s press release announcing its entry into the Lease and headquarters relocation to Boston is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is hereby incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit Number |
Description |
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Press release dated December 19, 2018 |
HAEMONETICS CORP Exhibit
EX-99.1 2 a991pressreleaseofficelease.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASE Investor Contact:Gerry Gould,…
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About HAEMONETICS CORPORATION (NYSE:HAE)
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals. The Company enables plasma collection customers to source from it a range of products necessary for plasma collection and storage, including PCS brand plasma collection equipment and disposables, plasma collection containers and intravenous solutions, such as saline. Haemonetics offers automated blood component and manual whole blood collection systems to blood collection centers to collect blood products. The Company offers a range of blood management solutions. The Company has a suite of integrated software solutions, which include solutions for blood drive planning and blood collection.
