IMMERSION CORPORATION (NASDAQ:IMMR) Files An 8-K Entry into a Material Definitive Agreement

On February 3, 2020, Immersion Corporation, a Delaware corporation (the “Company”), entered into an Office Lease (the “Lease”) with 330 Townsend (SF) Owner, LLC (the “Landlord”), to which the Company has leased approximately 4,953 square feet located at 330 Townsend Street, Suite 234, San Francisco, CA 94107 (the “Premises”).

The term of the Lease commences upon the date the Landlord delivers possession of the Premises in the condition required under the Lease (the “Commencement Date”), and continues until the last day of the 24th full calendar month following the Commencement Date (the “Term”). The annual base rent is $59.50 per square foot for the first 12 full calendar months of the Term, increasing to $61.29 per rentable square foot for the following 12 calendar months of the Term. The first full calendar month of the Term is subject to abatement by the Landlord.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Lease, which will be filed with the Company’s Form 10-K for the year ending December 31, 2019.

As disclosed in the Company’s Form 10-Q for the quarter ended September 30, 2019, the Board authorized the abandonment of the leased facility at 50 Rio Robles in San Jose California. The Company has begun offering the facility along with in place leasehold improvements and furniture and fixtures for sublease.

Prior to the Company entering into the Lease, in December 2019, the Company commenced certain corporate headquarter operations at an interim location in San Francisco, including through moving executive offices to such interim location.

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 in Item 1.01 above is incorporated by reference into this Item 2.03.

About IMMERSION CORPORATION (NASDAQ:IMMR)

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial. It provides advanced tactile software, related tools and technical assistance to certain customers, and offers licenses to its patented IP to other customers. Its licenses enable customers to deploy haptically-enabled devices, content and other offerings, which they sell under own brand names. It holds patents, covering digital technologies and including ways in which touch-related technology can be incorporated into and between hardware products and components, systems software, application software, and digital content.