SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Item 1.01 Entry into a Material Definitive Agreement.
On August 6, 2021, Agile Therapeutics, Inc. (the “Company”) entered into a Lease (the “Lease”) with 500 College Road Venture, LLC, a New Jersey limited liability company (the “Landlord”), for a portion of the building located at 500 College Road East, Princeton, New Jersey 08540 (the “Premises”). Under the terms of the Lease, the Company will lease approximately 13,774 square feet at the Premises, which will serve to replace the Company’s current leased premises at 101 Poor Farm Road, Princeton, New Jersey.
The base rent under the Lease is $26.00 per rentable square foot per year during the first year of the term, which is subject to scheduled annual increases of $0.50 per rentable square foot during the term, on each anniversary date of the Commencement Date (as defined below). The Company’s obligation to pay rent under the Lease will start on the later of December 1, 2021 or the date on which certain building improvements are substantially completed, all as set forth in the Lease (the “Commencement Date”). The term of the Lease is forty months following the Commencement Date.
The Company’s current lease for its corporate headquarters at 101 Poor Farm Road, Princeton, New Jersey is set to expire on December 31, 2021.
The foregoing description of the terms of the Lease do not purport to be complete and each is qualified in its entirety by reference to the full text of the Lease which will be filed with 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 information included in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 of this Current Report on Form 8-K by reference.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Agile Therapeutics, Inc.
Dated: August 6, 2021
/s/ Alfred Altomari
Chairman and Chief Executive Officer