CADL 8-K
Candel Therapeutics, Inc. (CADL)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01 Entry into a Material Definitive Agreement.
On August 18, 2025, Candel Therapeutics Inc. (the “Company”) entered into a First Amendment to Lease Agreement (the “Lease Amendment”), which amends that certain Lease Agreement with 117 Kendrick DE, LLC (the “Landlord”), dated as of February 4, 2019 (the “Lease”), providing for the lease of approximately 15,197 rentable square feet in the building located at and commonly known as located at 117 Kendrick Street, Needham, Massachusetts (the “Premises”).
Pursuant to the Lease Amendment, the term of the Lease was extended from August 31, 2026 to August 31, 2029 (the “Extended Term”). Under the terms of the Lease Amendment, commencing on September 1, 2026, the base rent for the Premises payable by the Company to the Landlord will be $607,880 per year and will increase by $15,197 annually during the Extended Term.
The foregoing summary of the material terms of the Lease Amendment does not purport to be a complete description of the Lease Amendment and is qualified in its entirety by reference to the complete text of the Lease Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number |
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Description |
10.1* |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* Portions of this exhibit have been omitted by means of redacting a portion of the text and replacing it with “[***]” because they are both (i) not material and (ii) the type of information that the registrant treats as private or confidential.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Candel Therapeutics, Inc. |
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Date: |
August 21, 2025 |
By: |
/s/ Paul Peter Tak |
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Paul Peter Tak, M.D., Ph.D., FMedSci |
Exhibit 10.1
Certain identified information has been excluded from this exhibit because it is both not material and is the type that the registrant treats as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”.
FIRST AMENDMENT OF LEASE
THIS FIRST AMENDMENT OF LEASE (this “Amendment”) is entered into as of August 18, 2025 by and between Candel Therapeutics, Inc. (f/k/a Advantagene, Inc.), a Delaware corporation (“Tenant”), and 117 Kendrick DE, LLC, a Delaware limited liability company (“Landlord”).
Recitals
Statement of Amendment
NOW THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
PERIOD: |
ANNUAL RATE: |
MONTHLY RATE: |
PSF RATE: |
September 1, 2026 through August 31, 2027 |
$607,880.00 |
$50,656.67 |
$40.00 |
September 1, 2027 through August 31, 2028 |
$623,077.00 |
$51,923.08 |
$41.00 |
September 1, 2028 through August 31, 2029 |
$638,274.00 |
$53,189.50 |
$42.00 |
“5B. Lease Term: From the Commencement Date through the last day of the tenth (10th) Lease Year.”
“PERIOD: |
ANNUAL RATE: |
MONTHLY RATE: |
PSF RATE: |
Lease Year 8 |
$607,880.00 |
$50,656.67 |
$40.00 |
Lease Year 9 |
$623,077.00 |
$51,923.08 |
$41.00 |
Lease Year 10 |
$638,274.00 |
$53,189.50 |
$42.00” |
“14B. Landlord’s Address for Notices:
117 Kendrick DE, LLC
c/o The Bulfinch Companies, Inc.
116 Huntington Avenue, Suite 600
Boston, MA 02116
Attention: Robert A. Schlager
Telephone: [***] Email: [***]
With a copy to:
The Bulfinch Companies, Inc.
116 Huntington Avenue, Suite 600
Boston, MA 02116
Attention: Legal Department
Telephone: [***] Email: [***]
And
Vorys, Sater, Seymour and Pease LLP
301 East Fourth Street, Suite 3500
Great American Tower
Cincinnati, OH 45202
Attention: Kristin L. Woeste, Esq.
Email: [***]
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[Signature Page Follows]
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IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date first set forth above.
TENANT:
CANDEL THERAPEUTICS, INC.
(F/K/A ADVANTAGENE, INC.)
By: /s/ Paul Peter Tak_____________
Print Name: Paul Peter Tak________
Title: President and Chief Executive Officer
Duly Authorized
LANDLORD:
117 KENDRICK DE, LLC
By: /s/ Robert A. Schlager__________
Print Name: Robert A. Schlager
Title: Vice President
[Signature Page to First Amendment of Lease]
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SECRETARY’S CERTIFICATE
The undersigned hereby certifies that she/he is the Secretary of Candel Therapeutics, Inc. (f/k/a Advantagene, Inc., a Delaware corporation (the “Corporation”), and that the execution and delivery of the foregoing Amendment to Lease by Paul Peter Tak, M.D., Ph.D., FMedSci, the President and Chief Executive Officer of the Corporation, has been duly authorized by a vote of the board of directors of the Corporation which are in full force and effect as of this day and that Paul Peter Tak, M.D., Ph.D., FMedSci has in fact signed the foregoing Amendment to Lease.
ATTEST
/s/ Charles Schoch____________
Charles Schoch, Secretary
Dated as of: August 18, 2025
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