MARINUS PHARMACEUTICALS,INC. (NASDAQ:MRNS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On December7, 2018, we entered into a Second Amendment to Lease with Radnor Properties-SDC, L.P. (Amended Lease) to lease approximately 22,487 rentable square feet of office space in Radnor, PA. This Lease amends our existing lease agreement, as amended, with Radnor Properties-SDC, L.P. which we entered into on December28, 2015 (Original Lease) to replace our existing premises of approximately 8,522 rentable square feet of office space.
The Amended Lease provides for a 78-month, non-cancelable and non-renewable term beginning upon commencement of our occupation of the substitution premises. Rent will start at $34 per square foot, or approximately $765,000 per year initially, and increase annually to a fixed rent schedule to approximately $860,000 for the final year. The Amended Lease also provides for an Improvement Allowance of $40 per square foot, or approximately $900,000.
A copy of the Amended Lease as modifying the Original Lease is attached as Exhibit10.1 to this report and is incorporated herein by reference. The descriptions of the Original Lease and Amended Lease are a summary only and are qualified in their entirety by reference to Exhibit10.1.
Item 9.01. Financial Statements and Exhibits.