Summary
Regeneron Pharmaceuticals, Inc. (REGN) filed an 8-K on February 16, 2010, to report a material definitive agreement. Specifically, the company entered into a Fifth Amendment to a pre-existing operating lease agreement with BioMed Realty Trust, Inc. (BMR) on February 11, 2010. This amendment pertains to Regeneron's corporate headquarters and research laboratories located in Greenburgh, Westchester County, New York. The key aspect of this amendment concerns tenant improvement allowances. The agreement outlines new terms for how BMR will provide these allowances to Regeneron and how Regeneron will repay these amounts through rent over the remaining lease term. While the specifics of the financial impact are detailed in the full amendment document (Exhibit 99.1), this filing indicates adjustments to lease-related financial obligations concerning facility upgrades and related payments.
Key Highlights
- 1Regeneron Pharmaceuticals entered into a Fifth Amendment to an existing operating lease agreement on February 11, 2010.
- 2The amendment is with BioMed Realty Trust, Inc. (BMR) for Regeneron's corporate headquarters and research facilities.
- 3The lease is for property located in the Town of Greenburgh, Westchester County, New York.
- 4The amendment modifies terms related to tenant improvement allowances provided by BMR to Regeneron.
- 5Regeneron will repay these tenant improvement allowances through rent over the lease term as per the amendment.
- 6This filing is an 8-K, indicating a material definitive agreement has been entered into.