Item 1.01 Entry into a Material Definitive Agreement.
On May 12, 2023, Finch Therapeutics Group, Inc. (the "Company") entered into a
Lease Termination Agreement (the "Agreement") with NRL WCS 200 Inner Belt Prop,
LLC, a Delaware limited liability company (the "Landlord"), related to the
office lease agreement, dated as of December 21, 2015 (as subsequently amended
and assigned, the "Lease"), pursuant to which the Company leases approximately
10,500 square feet on the first floor and 25,785 square feet on the fourth floor
of office and laboratory space at 200 Inner Belt Road, Somerville, Massachusetts
(together, the "Premises").
Pursuant to the Agreement, if the Landlord enters into a new lease agreement for
the Premises with a designated prospective third-party tenant, the Lease will
terminate on the date that is the later to occur of (a) May 31, 2023 and
(b) three (3) days following the execution of the new lease with the prospective
third-party tenant. If the Landlord and the prospective third-party tenant do
not enter into a new lease by June 30, 2023, the Agreement will, upon five
(5) days' prior written notice by either party, terminate and be of no further
force or effect, and the Company will continue to lease the Premises in
accordance with the terms of the Lease through its expiration in September 2026.
The foregoing description of the Agreement is qualified in its entirety by
reference to the complete text of the Agreement, a copy of which is attached
hereto as Exhibit 10.1 and which is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
10.1 Lease Termination Agreement, dated as of May 12, 2023, by and
between the Company and NRL WCS 200 Inner Belt Prop, LLC
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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