Item 1.01 Entry into a Material Definitive Agreement.
Effective December 1, 2022 (the "Effective Date"), Solid Power Operating, Inc.,
a wholly owned subsidiary of Solid Power, Inc. (the "Company"), entered into a
Second Amendment (the "Second Amendment") to that certain Lease Agreement by and
between the Company and Red Pierce, LLC (the "Landlord"), dated November 29,
2016, as amended (the "Original Lease" and, as amended by the Second Amendment,
the "Site 1 Master Lease"). Pursuant to the Original Lease, the Company
currently leases 19,195 square feet of rentable space from the Landlord at a
facility in Louisville, Colorado. The Company is also currently occupying an
additional 9,645 square feet of rentable space (the "Suite D Premises") at this
facility. Prior to the Effective Date, the Company subleased the Suite D
Premises from a third-party pursuant to a separate sublease agreement (the
"Sublease Agreement"). As further described below, in connection with the Second
Amendment, the Suite D Premises have been added to the Site 1 Master Lease; as a
result, the Sublease Agreement was terminated on the Effective Date by mutual
agreement of the parties.
The Second Amendment, among other things, (i) expands the Company's leased
premises under the Site 1 Master Lease to include the Suite D Premises,
resulting in the Company leasing approximately 29,000 square feet of rentable
space from the Landlord at the Louisville, Colorado facility pursuant to the
Site 1 Master Lease; (ii) extends the initial term of the Site 1 Master Lease
from September 6, 2024 to September 6, 2029; and (iii) provides for monthly rent
payments of approximately $33,310, commencing on the Effective Date until
September 6, 2023, subject to yearly increases thereafter as specified in the
Second Amendment. Except as otherwise described above, all other material terms
and conditions of the Original Lease remain in full force and effect.
The Louisville, Colorado facility, including the Suite D Premises, will continue
to serve as the Company's corporate headquarters and the Company intends to
continue using this facility primarily for research and development,
manufacturing and quality control purposes.
The foregoing description of the Second Amendment is qualified in its entirety
by the full text of the Second Amendment, a copy of which is filed as Exhibit
10.1 to this Current Report on Form 8-K, and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
10.1± Second Amendment to Lease Agreement by and between the Company and Red
Pierce, LLC, dated December 1, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
± Certain portions of this exhibit have been omitted in accordance with
Regulation S-K Item 601. The Company agrees to furnish an unredacted copy of the
exhibit to the SEC upon request.
© Edgar Online, source Glimpses