HTG Molecular Diagnostics, Inc. Enters into Third and Fourth Amendment to Its Standard Commercial-Industrial Multi Tenant Triple Net Lease with Pegasus Properties L.P
September 29, 2021 at 06:06 am EDT
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On September 27, 2021, HTG Molecular Diagnostics, Inc. entered into a Third Amendment to its Standard Commercial-Industrial Multi Tenant Triple Net Lease, dated July 11, 2008, with Pegasus Properties L.P. (the Suite 300 Lease), related to the Company’s corporate facilities located at 3430 E. Global Loop, Suite 300, Tucson, Arizona 86706 (the Third Amendment). On September 27, 2021, the Company also entered into a Fourth Amendment to its Standard Commercial-Industrial Multi Tenant Triple Net Lease, dated May 11, 2011, with Pegasus Properties L.P. (the Suite 100 Lease), related to the Company’s corporate facilities located at 3400 E. Global Loop, Suite 100, Tucson, Arizona 86706 (the Fourth Amendment). Pursuant to the Third Amendment, the term of the Suite 300 Lease was extended for a period of three years to January 31, 2025. The monthly base rent under the Suite 300 Lease for the period from February 1, 2022 through January 31, 2025 will be $15,735 per month. The Company will have an option to renew the Suite 300 Lease for an additional two year period on the same terms and conditions as the existing Suite 300 Lease, as amended by the Third Amendment, except that lease rates would be adjusted to rates applicable to like-kind buildings within the market at the time the Company elects to exercise the extension option, but in no event to less than the last applicable rental rate. Pursuant to the Fourth Amendment, the term of the Suite 100 Lease was extended for a period of three years to January 31, 2025. The monthly base rent under the Suite 100 Lease for the period from February 1, 2022 through January 31, 2025 will be $24,500 per month. The Company will have an option to renew the Suite 100 Lease for an additional two year period on the same terms and conditions as the existing Suite 100 Lease, as amended by the Fourth Amendment, except that lease rates would be adjusted to rates applicable to like-kind buildings within the market at the time the Company elects to exercise the extension option, but in no event to less than the last applicable rental rate.
HTG Molecular Diagnostics, Inc. is a life science company. The Company is focused on advancing precision medicine and drug discovery through its transcriptome-wide profiling and advanced drug discovery platform technologies. The Company is engaged in the sales of its HTG EdgeSeq system and integrated next-generation sequencing-based (NGS-based) HTG EdgeSeq research use only (RUO) assays and from sample processing services. Its HTG EdgeSeq profiling technology measures ribonucleic acid (RNA) using deoxyribonucleic acid (DNA) nuclease protection probes (DNA protection probes). Its profiling product and service solutions enable targeted RNA profiling using a small amount of biological sample, in liquid or solid forms. Its menu of HTG EdgeSeq assays includes the HTG Transcriptome Panel (HTP), which is designed to measure approximately 20,000 mRNA targets using its HTG EdgeSeq technology, is automated on its HTG EdgeSeq system.
HTG Molecular Diagnostics, Inc. Enters into Third and Fourth Amendment to Its Standard Commercial-Industrial Multi Tenant Triple Net Lease with Pegasus Properties L.P