SharpSpring, Inc. (NASDAQ:SHSP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On April 18, 2018, SharpSpring, Inc. (“SharpSpring”) entered into a new lease (the “Lease”) with Celebration Pointe Office Partners II, LLC, a Florida limited liability company (the “Landlord”), to lease approximately 25,000 square feet of office space located at 5001 Celebration Pointe Avenue, Gainesville, Florida (the “Premises”) for the Company’s new principal office.
The term of the Lease (the “Term”) is ten (10) years, beginning on the date on which SharpSpring takes possession of and occupies all or any part of the Premises for normal business activities (the “Commencement Date”), and ending on the tenth anniversary of the Commencement Date (the “Expiration Date”). The Term may be extended for an additional 5 years in incremental one-year periods, subject to certain conditions described in the Lease.
Base rent for the first year of the Lease Term is approximately $619,000, with increases in base rent occurring every two years of approximately $1.00 of rent per square foot during the Lease Term. The Landlord has agreed to deliver the space turnkey per SharpSpring’s construction guidelines and specifications with a construction allowance of up to $60.00/square foot. Any build-out costs above $60.00/square foot will be paid by SharpSpring.
Assignment of Prior Lease
In conjunction with the signing of the Lease, SharpSpring has agreed to assign its existing lease for its current primary office located at 550 SW 2nd Ave, Gainesville, Florida (the “Prior Lease”) to the Landlord (the “Assignment”).
The foregoing description of the Lease and the Assignment do not purport to be complete and each are qualified in their entirety by reference to the full text of the Lease and Assignment, copies of which are attached asExhibit 10.1and Exhibit 10.2 to this Current Report on Form 8-K.
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 above under Item 1.01 is incorporated by reference in this Item 2.03.
Item 9.01 Financial Statements and Exhibits
Office Lease Agreement with Celebration Pointe Office Partners II, LLC.
Assignment of Tenant’s Interest and Assumption of Lease with Celebration Pointe Office Partners II, LLC
SharpSpring, Inc. ExhibitEX-10.1 2 shsp_ex101.htm OFFICE LEASE AGREEMENT Blueprint Exhibit 10.1 OFFICE LEASE AGREEMENT BETWEEN CELEBRATION POINTE OFFICE PARTNERS II,…To view the full exhibit click
About SharpSpring, Inc. (NASDAQ:SHSP)
SharpSpring, Inc., formerly SMTP, Inc., is a cloud-based marketing technology company. The Company’s SharpSpring marketing automation platform uses features, such as Web tracking, lead scoring and automated workflow to enable businesses deliver messages to the customers. The SharpSpring marketing automation solution offers digital marketing tools to small and medium-sized businesses and is primarily sold to marketing agencies using the platform on behalf of their clients. The Company offers a SMTP relay product, which is designed to send high volumes of e-mail messages. The Company offers the GraphicMail e-mail campaign management solution to customers globally. The GraphicMail platform is focused on e-mail, social and mobile marketing and is used by companies wishing to communicate with a list of subscribers or customers. The Company’s platform is used by agencies, agency clients and direct end users.