Riot Blockchain, Inc. (NASDAQ: RIOT) Files An 8-K Entry into a Material Definitive Agreement

Riot Blockchain, Inc. (NASDAQ: RIOT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Definitive Material Agreement.

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Kairos Lease Amendment

Kairos Global Technologies, Inc. (“Kairos”), the wholly-owned subsidiary of Riot Blockchain, Inc. (the “Company”) entered into that certain Lease Agreement by and between Kairos and 7725 Reno #1, L.L.C. (“7725 Reno”) dated February 27, 2018, as amended on March 26, 2018 (the “Lease”). Effective as of November 29, 2018, Kairos entered into a second amendment to the lease (the “Second Lease Amendment”), whereby certain provisions of the Lease are amended. The Second Lease Amendment amends the lease by: (i) extending the initial term of the Lease through August 15, 2019; (ii) effective as of December 1, 2018, changing the monthly rent for the Lease as follows: (a) Kairos shall pay $235,000 for December of 2018, (b) $230,000 for January of 2019, and (c) $190,000 per month thereafter for the duration of the Lease, including any renewals; (iii) changing the monthly electricity usage charges due under the Lease as shown in the attached copy of the Second Lease Amendment; (iv) providing that Kairos shall reimburse 7725 Reno for up to $14,000 of the costs of installing electricity metering devices in the leased facility; and (v) providing that, if it is not in default at that time, Kairos shall be have the option to renew the Lease for up to two (2) three (3) month periods after the expiration of the initial term of the Lease.

The foregoing descriptions of the Second Lease Amendment do not purport to be complete and are qualified in their entirety by reference to the complete text of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by this reference.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits. The following exhibit is filed herewith:

Riot Blockchain, Inc. Exhibit
EX-10.1 2 ex10x1.htm EXHIBIT 10.1 Exhibit 10.1       SECOND AMENDMENT TO LEASE THIS SECOND AMENDMENT TO LEASE (“Amendment”) is entered into effective as of November 29th,…
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