VIVEVE MEDICAL, INC. (NASDAQ:VIVE) Files An 8-K Entry into a Material Definitive Agreement
Item1.01Entry into a Material Definitive Agreement.
Sublease Agreement
On February 1, 2017, Viveve Medical, Inc. (the Company) entered
into a sublease (the Sublease) with Ingredion Incorporated, as
sublandlord (Ingredion) for approximately 12,342 square feet of
space in a building located at 345 Inverness Drive South,
Building B, Suite 200, Englewood, Colorado 80112 (the Sublease
Premises), which is effective as of January 26, 2017.The Sublease
Premises are a portion of the space currently leased by Ingredion
(the Premises), to a Lease of Space (the Lease of Space) by and
between Hines REIT 345 Inverness Drive, LLC, as landord, and
Penford Corporation, as tenant, as such Lease of Space was
assumed by Ingredion to an Assumption of Lease with Landlord
Consent (collectively, the Master Lease).
The term of the Sublease will commence on the later of (i) 120
days after the date Ingredion delivers possession of the Sublease
Premises to the Company or (iii) upon substantial completion of
the Subtenant Improvements (defined below) to the Sublease (the
Commencement Date), and will expire 36 months after the
Commencement Date, or such earlier date as the Master Lease may
be terminated to the terms thereof.
The monthly base rent for the Sublease Premises under the
Sublease will be equal to $20.50 per rentable square foot of the
Sublease Premises, payable by the Company to Ingredion during the
first year of the Sublease. The monthly base rent will be equal
to $21.12 and 21.75 per rentable square foot during the second
and third years of the Sublease, respectively. In connection with
the execution of the Sublease, the Company also agreed to pay a
security deposit in the amount of $21,717. The Company is
entitled to an allowance of $88,030 for certain improvements
relating to the engineering, design and construction of the
Sublease Premises as set forth in the Sublease (the Subtenant
Improvements)
The foregoing description of the Sublease does not purport to be
complete and is qualified in its entirety by reference to the
Sublease, a complete copy of which is filed hereto as Exhibit
10.1 and incorporated by reference herein.
Item 8.01.Other Events
On February 3, 2017, the Company issued a press release
announcing its entry into the Sublease. A copy of the press
release is filed herewith as Exhibit 99.1.
Item9.01.Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit No. |
Description |
|
10.1 |
Sublease Agreement,entered into onFebruary 1, 2017 and |
|
99.1 |
Press Release dated February 3, 2017 |
About VIVEVE MEDICAL, INC. (NASDAQ:VIVE)
Viveve Medical, Inc., formerly PLC Systems, Inc., designs, develops, manufactures and markets medical devices for the non-invasive treatment of vaginal laxity. The Company’s Viveve Treatment is a non-invasive solution for vaginal laxity that is performed in approximately 30 minutes, in a physician’s office. The Viveve System uses monopolar radiofrequency (RF) energy to generate low temperature heat. The vaginal mucosa is simultaneously cooled while this non-ablative heat is delivered into the submucosal layer. The RF energy stimulates the formation of collagen and causes the collagen fibers to remodel thereby tightening the submucosal tissue of the vaginal introitus. The RF stimulation causes subtle alterations in the collagen that can renew the tissue and further tighten the vaginal tissue over the next 1 to 3 months following treatment (the Viveve Treatment) and lead to increased sexual function. VIVEVE MEDICAL, INC. (NASDAQ:VIVE) Recent Trading Information
VIVEVE MEDICAL, INC. (NASDAQ:VIVE) closed its last trading session 00.00 at 5.00 with 5,965 shares trading hands.