MCHX 8-K
Marchex Inc (MCHX)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On April 29, 2026, Marchex, Inc., a Delaware corporation (the “Company”) entered into a Sublease Agreement (the “Sublease”) with RentSpree, Inc., a Delaware corporation (“RentSpree”), with respect to the sublease of the Company’s office space located at 1200 5th Avenue, Suite 1300, Seattle, Washington.
The term of the Sublease is May 1, 2026 through September 28, 2027 (the “Term”) and is for all 12,300 square feet.
Under the Sublease, RentSpree is obligated to pay to the Company fixed monthly rent over the Term totaling approximately $337,000, with an initial rate of $19.25 per square foot increasing after 12 months to $19.50 per square foot.
The description of the Sublease set forth herein does not purport to be complete and is qualified in its entirety by reference to the full text thereof, a copy of which will be filed as an exhibit to the Company’s next applicable periodic report or registration statement.
Item 2.06 Material Impairments.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
In connection with the Company’s entry into the Sublease Agreement with RentSpree described under Item 1.01 of this Current Report on Form 8‑K, the Company determined that the carrying value of its right‑of‑use asset associated with the underlying office space exceeds its estimated fair value.
As a result, the Company will record a noncash impairment charge related to the right‑of‑use asset during the first quarter of 2026. The impairment charge will be reflected in the Company’s consolidated statement of operations for the quarter ending March 31, 2026. The Company currently expects the impairment charge to be approximately $203,000. The final amount of the impairment charge may differ from this estimate as the Company completes its analysis of the transaction.
Pursuant to the requirements of the Securities Exchange Act of 1934, Marchex has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
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MARCHEX, INC. |
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Date: May 1, 2026 |
By: |
/s/ FRANCIS J. FEENEY |
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Name: |
Francis J. Feeney |
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Title: |
Corporate Secretary |