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    ETSY   US29786A1060

ETSY, INC.

(ETSY)
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ETSY INC : Entry into a Material Definitive Agreement (form 8-K)

10/12/2021 | 04:42pm EST

Item 1.01. Entry into a Material Definitive Agreement.

On October 7, 2021, Etsy, Inc. (the "Company") and RFR/K 117 Adams Owner LLC and RFR/K 55 Prospect Owner LLC (together, the "Landlord") entered into a First Amendment to Lease (the "First Amendment"), effective as of October 1, 2021, amending that certain Agreement of Lease, dated May 12, 2014 (the "Current Lease" and, as amended by the First Amendment, the "Lease") relating to the Company's corporate headquarters located at 117 Adams Street and 55 Prospect Street, Brooklyn, NY 11201.

The First Amendment extends the expiration of the term of the Current Lease with respect to the property originally subject to the Lease (the "Original Premises") from July 31, 2026 to July 31, 2039. After giving effect to rent concessions and tenant improvement allowances provided in the First Amendment, the annualized rent for the remaining lease term will be approximately $12.6 million.

This First Amendment includes a tenant allowance, a portion of which becomes available beginning in April 2022, rent concessions that become available beginning in 2026, and escalating commitments each contract year between 2028 and 2038.

The foregoing summary of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the First Amendment, which the Company expects to file as an exhibit to its Annual Report on Form 10-K for the year ended December 31, 2021.






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© Edgar Online, source Glimpses

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