UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 1, 2020
STAAR Surgical Company
(Exact Name of Registrant as Specified in Charter)
Delaware |
0-11634 |
95-3797439 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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25651 Atlantic Ocean Drive Lake Forest, California |
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92630 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s Telephone Number, Including Area Code: 626-303-7902
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ |
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common |
STAA |
NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1 933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On October 1, 2020, STAAR Surgical Company (the “Company”) entered into a lease amendment (the “Lease Amendment”) with Pacific Equity Partners, LLC, exercising its renewal option of a total of approximately 26,000 square feet of leased, industrial use real property located at 1941 Walker Avenue, Monrovia, California (“Premises”). The Lease Amendment expires October 31, 2025. The Company has conducted office and manufacturing related operations at the Premises since 2012.
The foregoing summary is qualified in its entirety by reference to the Lease Amendment, a copy of which is filed as Exhibit 10.40 to this Current Report on Form 8-K and incorporated herein by this reference.
Item 9.01 Financial Statements and Exhibits
Exhibit No. |
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Description |
10.40
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First Amendment by and between the Company and Pacific Equity Partners, LLC. |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
STAAR Surgical Company |
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October 7, 2020 |
By: |
/s/ Caren Mason |
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Caren Mason |
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President and Chief Executive Officer |
Exhibit 10.40
FIRST AMENDMENT DATED SEPTEMBER 11, 2020 ("FIRST AMENDMENT") TO STANDARD INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE – NET DATED AUGUST 8, 2012 ("LEASE") BETWEEN PACIFIC EQUITY PARTNERS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY ("LESSOR"), AND STAAR SURGICAL COMPANY, A DELAWARE CORPORATION ("LESSEE")
This First Amendment modifies and amends the Lease as follows:
1. |
Expiration Date |
The Expiration Date as defined in Section 1.3 of the Lease is hereby extended from October 31, 2020 to October 31, 2025 ("Extended Lease Term").
2. |
Base Rent |
The Base Rent due for the extended term will be as follows:
Period |
Monthlv Base Rent Due |
11/01/2020 - 11/30/2020 |
Free Rent |
12/01/2020 - 10/31/2021 |
$23,959 |
11/01/2021 - 10/31/2022 |
$24,558 |
11/01/2022 - 10/31/2023 |
$25,172 |
11/01/2023 - 10/31/2024 |
$25,801 |
11/01/2024 - 10/31/2025 |
$26,446 |
3. |
Other Terms and Conditions |
All other terms and conditions of the Lease shall remain unchanged and in full force and effect.
4. |
Counterparts |
This First Amendment may be executed by facsimile, PDF and/or electronic transmission, and in counterparts and a fully executed facsimile or PDF copy of this First Amendment shall be deemed to be an original for all purposes.
Signatures On Following Page
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AGREED & ACCEPTED: |
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LESSOR: |
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Pacific Equity Partners, LLC, a California limited liability company |
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By: |
/s/ Adam Milstein |
Name: |
Adam Milstein |
Title: |
Chief Financial Officer |
Dated: |
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By: |
/s/ Robert Neal |
Name: |
Robert Neal |
Title: |
Executive Vice President |
Dated: |
10/1/2020 |
LESSEE: |
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Staar Surgical Company, a Delaware corporation |
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By: |
/s/ Graydon Hansen |
Name: |
Graydon Hansen |
Title: |
Chief Manufacturing Officer |
Dated: |
2020/09/30 |
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