Surrozen IncDE
For the period ended Jun 30, 2024. Filed Aug 12, 2024.
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Jun 30, 2024 · Filed Aug 12, 2024
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Item 5. Other Information
Rule 10b5-1 Trading Arrangements
During the six months ended June 30, 2024, none of our directors or executive officers adopted orterminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act or any “non-Rule 10b5-1 trading arrangement” as such term is defined in Item 408(a) of Regulation S-K.
Sublease Agreement with Nura Bio, Inc.
On April 19, 2024, we entered into a sublease agreement, or the Sublease, with Nura Bio, Inc., or Nura Bio, pursuant to which we will sublease to Nura Bio approximately 6,102 square feet of space located at 171 Oyster Point Boulevard in South San Francisco, California on a month-to-month basis. We previously entered into a lease with HCP Oyster Point III LLC, dated August 4, 2016, for approximately 32,813 square feet of office space, which lease terminates in April 2025.
The term of the Sublease commences on the later of (i) receipt of HCP Oyster Point III LLC’swritten consent to the Sublease or (ii) delivery of the subleased space to Nura Bio with the lab portions of the space fully decommissioned, and will continue on a month-to-month basis unless the Sublease is sooner terminated pursuant to its terms or our original lease is sooner terminated pursuant to its terms. In addition, either party may terminate the Sublease upon 30 days’ written notice to the other party; provided, however, that we shall not have the right to terminate the Sublease during the first six months unless Nura Bio is then in material breach of the Sublease.
The monthly base rent for the Sublease is$35,086.50. The base rent is subject to a 3% annual increase, after 12 months, and on each 12-month anniversary thereafter, provided that the parties continue to renew the Sublease on a month-to-month basis through such time. Nura Bio is also responsible for its share of real estate taxes, utilities and other operating expenses applicable to the subleased space.
Tim Kutzkey, Ph.D., a former member of our board of directors, serves as the chairman of the board of directors of Nura Bio. Dr. Kutzkey serves as Managing Partner of The Column Group, LLC, which is the general partner of certain limited partnerships which are significant stockholders of Nura Bio. In accordance with our related person transaction policy, our audit committee has approved and ratified the Sublease with Nura Bio.
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