Business Context and Reporting Period
Company: Harvard Bioscience, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 30, 2005
Event: Entry into a Material Definitive Agreement (Lease)
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on the terms of a new lease agreement.
Material Changes and Agreement Details
On December 30, 2005, the Company entered into a three-year lease agreement with Seven October Hill, LLC for its headquarters, office, light manufacturing, and warehouse space in Holliston, Massachusetts.
- Commencement Date: March 1, 2006
- Space: Approximately 40,250 square feet
- Base Rent: $21,290.63 per month plus operating expenses and taxes
- Renewal Option: Two-year renewal available at a base rent of $23,193.71 per month plus operating expenses and taxes, exercisable no later than twelve months prior to expiration.
- Expansion Option: Option to lease an additional 3,500 square feet at a base rent of $1,968.75 per month, exercisable prior to February 1, 2006.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or discussion of risks beyond the standard qualification that the summary is subject to the full lease agreement filed as Exhibit 99.1. No unusual items or contingencies were disclosed in this report.
Key Facts for Investor Verification
- Verify the total annualized cost of the new lease including estimated operating expenses and taxes.
- Confirm the Company's ability to exercise the expansion option by the February 1, 2006 deadline if operational needs increase.
- Review the full text of the Lease Agreement (Exhibit 99.1) for specific clauses regarding maintenance responsibilities, termination rights, and subletting restrictions.
- Assess the impact of the rent increase upon renewal ($23,193.71 vs. $21,290.63) on future operating budgets.