Sana Biotechnology, Inc 8-K, filed Aug 21, 2023
Sana Biotechnology, Inc. (SANA)
About this 8-K
Sana Biotechnology, Inc filed this 8-K on August 21, 2023, reporting on events of August 17, 2023.
Items reported
- Item 1.02: Ended a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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Item 1.02 Termination of a Material Definitive Agreement.
On August 17, 2023, Sana Biotechnology, Inc. (the “Company”) entered into a Lease Termination Agreement (the “Termination Agreement”) with Pacific Commons Owner, LP (the “Landlord”) for the early termination of that certain Lease Agreement between the Company and the Landlord dated July 13, 2021 (the “Lease”), pursuant to which the Company leased 163,193 square feet of industrial space located at 5567 Cushing Parkway in Fremont, California (the “Fremont Premises”).
Under the Termination Agreement, the Lease will terminate on August 30, 2023, and the Company will surrender its rights to the Fremont Premises on or before such date. The Company will pay the Landlord a termination fee of approximately $3.42 million, and the Landlord will return to the Company the irrevocable letter of credit provided by the Company as security under the Lease. The Termination Agreement provides for a release of claims by each of the Company and the Landlord, subject to certain customary exclusions.
As disclosed pursuant to that certain Current Report on Form 8-K filed by the Company with the SEC on June 1, 2022, the Company entered into an agreement to lease 79,565 square feet of laboratory and office and industrial space in Bothell, Washington (the “Bothell Facility”). The Company is establishing its planned manufacturing facility at the Bothell Facility instead of the Fremont Premises.
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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 thereunto duly authorized.
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Sana Biotechnology, Inc. |
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Date: August 21, 2023 |
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By: |
/s/ Bernard J. Cassidy |
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Bernard J. Cassidy |
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Executive Vice President and General Counsel |
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