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Surrozen Inc.

10/02/2024 | Press release | Distributed by Public on 10/02/2024 14:28

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

On October 1, 2024, Surrozen, Inc. (the "Company") through its wholly-owned subsidiary Surrozen Operating, Inc., entered into a lease amendment (the "Lease Amendment"), to its lease agreement with HCP Oyster Point III, LLC, dated August 4, 2016, as amended, for its headquarters in South San Francisco, California (the "Lease"). Pursuant to the Lease Amendment, the term of the Lease was extended by 48 months commencing on May 1, 2025 and expiring on April 30, 2029. The annual base rent escalates from $2.3 million for the first 12-month period to $2.6 million for the final 12-month period. On or prior to September 30, 2025, the Company has a one-time option to terminate the Lease by the payment of a lease termination fee of $400,000 on or prior to December 31, 2025.

The foregoing description of the Lease Amendment is qualified in its entirety by the terms of the Lease Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein. The Lease is filed as Exhibit 10.20 to the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (file no. 001-39635) filed with the Securities and Exchange Commission on March 28, 2022.