Business Context and Reporting Period
Company: Supernus Pharmaceuticals, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 20, 2014
Event: Entry into Material Definitive Agreements regarding lease amendments for corporate facilities in Rockville, Maryland.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. It details specific lease payment obligations:
- 1550 East Gude Drive (Headquarters): Base rent for the 12-month period ending April 30, 2020, is approximately $1,083,674.
- 1500 East Gude Drive (Facility): Base rent for the 12-month period ending April 30, 2020, is approximately $254,812. This includes an additional $8,069 per month for an 8,630 square foot expansion.
Material Changes
The filing reports two material amendments to existing lease agreements effective October 20, 2014:
- Lease Term Extension: Both the 1550 Lease and the 1500 Lease terms were extended from their original expiration date of April 30, 2018, to April 30, 2020.
- Space Expansion: The 1500 Lease was amended to increase the leased space by 8,630 square feet.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of risks beyond the commitment to the new lease terms. The descriptions of the amendments are qualified by reference to the full text of the agreements filed as exhibits.
Investor Verification Checklist
- Verify the total annualized rent obligation increase resulting from the 1500 facility expansion.
- Confirm the impact of the extended lease terms (through 2020) on the company's long-term operating commitments.
- Review the full text of Exhibit 10.1 (Fourth Amendment) and Exhibit 10.2 (First Amendment) for additional covenants or termination clauses not summarized in the 8-K.