Instructure, Inc. (NASDAQ:INST) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
|
Entry into a Material Definitive Agreement |
On November 10, 2016, Instructure, Inc. (the Company) entered
into a new lease agreement in Pleasant Grove, Utah to facilitate
the growth of its engineering, product and customer success
teams. The lease has an initial lease term of 10 years from the
date the facility is completed and the Company has the option to
renew for an additional five-year period. The lease includes
65,000 square feet, half of which will not be available until the
second year of the lease. Base annual rent payments are $803,000
for the first year and $1.6 million thereafter, subject to rent
escalations of 2.5% per year. In connection with the lease, the
Company obtained a letter of credit, and may be required to
obtain an additional letter of credit in the future, for the
benefit of the landlord.
The foregoing description of the lease is qualified in its
entirety by reference to the full text of the lease, which is
filed as Exhibit 10.1 to this Form 8-K.
|
Item 9.01 |
Financial Statements and Exhibits |
(d)Exhibits
|
Exhibit No. |
Description |
|
10.1 |
Lease Agreement by and between the Company and Valley |
About Instructure, Inc. (NASDAQ:INST)