Entry into a Material Definitive Agreement.
On September 17, 2021, Vaxart, Inc. (the "Company") entered into a lease agreement (the "Britannia Lease Agreement") with Britannia Pointe Grand Limited Partnership, a Delaware limited partnership, pursuant to which the Company will have approximately 24,606 square feet of rentable space located at 170 Harbor Way, South San Francisco, California 94080 (the "Harbor Way Premises"). The Company is currently occupying the Harbor Way Premises pursuant to that certain sublease, dated November 13, 2020, between the Company and Vera Therapeutics, Inc., a Delaware corporation. Pursuant to the Britannia Lease Agreement, the Company will rent the Harbor Way Premises for a term of forty-two months, commencing on October 1, 2025, and expiring on March 31, 2029. The Company will pay monthly rent of $177,327.23, subject to yearly increases as specified in the Britannia Lease Agreement.
On September 17, 2021, the Company entered into the Second Amendment to Lease Agreement (the "Second Amendment") with Healthpeak Properties, Inc., a Maryland corporation. The Second Amendment amends the Lease Agreement, dated April 17, 2015, as amended by that certain First Amendment to Lease Agreement, dated September 17, 2019. Currently, the Company has 5,188 square feet of rentable space located at 290 Utah Avenue, South San Francisco, California 94080 (the "Existing Premises"). Effective as of April 1, 2022, the Second Amendment expands the above premises to include an additional 24,544 square feet located at 310 Utah Avenue, South San Francisco, California 94080 (the "Expanded Premises"). The Second Amendment also extends the term of this lease until March 31, 2029. In connection with the Existing Premises, the Company will continue to pay the base rent currently in effect until May 1, 2025, after which the Company will pay a monthly rent of $37,388.18, subject to yearly increases as specified in the Second Amendment. Commencing on April 1, 2022, the Company will pay a monthly rent of $159,536.00 for the Expanded Premises, subject to yearly increases as specified in the Second Amendment.
The foregoing descriptions of the Britannia Lease Agreement and the Second Amendment do not purport to be complete and are qualified in their entirety by reference to the exhibits, which are hereby incorporated herein and may be amended from time to time.
Financial Statements and Exhibits.