Ooma, Inc. (NYSE:OOMA) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On October 4, 2017, a Sublease Agreement (the “Sublease”) between Ooma, Inc. (“Ooma”), and Fiserv Solutions, LLC (“Fiserv”) became effective. The Sublease relates to the sublease by Fiserv to Ooma of approximately 33,407 square feet of rentable office space located at 525 Almanor Avenue, Sunnyvale, California (the “Sunnyvale Premises”). The effectiveness of the Sublease and commencement of its term was conditioned on obtaining the consent of 525 Almanor LLC (the “Landlord”). The term of the Sublease expires on November30, 2019 (the “Sublease Term”).
Monthly base rent under the Sublease is approximately $58,500 for the first year of the term, subject to increases of approximately 3% annually on November of each year of the Sublease Term. No rent is payable for the first three months of the Sublease Term. In addition to the base rent, Ooma is responsible for its pro rata share of building operating expenses, calculated with reference to the rentable square feet of the Sunnyvale Premises.
The Sublease is subject and subordinate to Fiserv’s lease of the Sunnyvale Premises from the Landlord, to a lease agreement between the Landlord and Fiserv dated as of July20, 2012 (the “Master Lease”). The Sublease contains customary default provisions allowing Fiserv to terminate the Sublease if Ooma fails to cure a breach of any of its obligations within specified time periods. Ooma may not assign the Sublease or sublet all or any part of the Sunnyvale Premises without the prior written consent of the Landlord and Fiserv.
A copy of the Sublease is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the terms and conditions of the Sublease is qualified in its entirety by reference to Exhibit 10.1.
| Item 1.01. | Financial Statements and Exhibits |
(d) Exhibits
OOMA INC ExhibitEX-10.1 2 d457133dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 OFFICE SUBLEASE LANDLORD: FISERV SOLUTIONS,…To view the full exhibit click here
About Ooma, Inc. (NYSE:OOMA)
Ooma, Inc. is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices. Its platform helps create smart workplaces and homes by providing value-added communications and other connected services and by integrating end-point devices to enable the Internet of Things. Its platform and solutions provide communications, productivity, automation, monitoring, safety, security and networking infrastructure applications to its users. It product, Ooma Office, consists of an on premise appliance an Ooma Linx end-point device, which wirelessly connects regular desktop telephones to the user’s Internet connection. Its product, Ooma Telo, is a home communications solution.