Item 1.01. Entry into a Material Definitive Agreement.
Effective as of October 1, 2021, Romeo Power, Inc. (the "Company") entered into
a Single-Tenant Commercial Lease (the "Lease"), with Warland Investments Company
(the "Landlord") relating to approximately 215,000 square feet of office,
assembly, storage, warehouse and distribution space located at 5560 Katella
Avenue, Cypress, California 90630 (the "Premises"). The Company intends to use
the Premises for its corporate headquarters. The Lease will commence on the
earliest of (i) twelve (12) weeks after the Landlord tenders possession of the
Premises, (ii) the date on which the Company commences any business use at the
Premises, and (iii) the date of substantial completion pursuant to the work
letter agreement between the Company and the Landlord.
Under the terms of the Lease, the Company is obligated to pay the Landlord an
initial base monthly rent of $210,700, or $0.98 per square foot. The monthly
base rent will increase annually by approximately three percent of the
then-current base rent. The Company will also be responsible for its
proportional share of operating expenses, real estate tax expenses, insurance
charges and maintenance costs, each as defined in the Lease, associated with the
ownership, operation, maintenance, and repair of the Premises, subject to
certain exclusions provided in the Lease. The term of the Lease is 97 calendar
months. The Company may, at its option, extend the term of the Lease for five
(5) additional years on the same terms and conditions, except that the base
monthly rent shall be adjusted to the "fair rental value" of the Premises.
The Lease contains customary default provisions allowing the Landlord to
terminate the Lease if the Company fails to remedy a breach of any of its
obligations under the Lease within specified time periods, or upon bankruptcy or
insolvency of the Company. The Lease also contains other customary provisions
for real property leases of this type. The foregoing description of the material
terms of the Lease does not purport to be complete and is subject to, and is
qualified in its entirety by, reference to the Lease, a copy of which will be
filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the
period ended September 30, 2021.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The disclosure included in Item 1.01 of this Current Report on Form 8-K is
incorporated into this Item 2.03 by reference.
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ROMEO POWER, INC. 
