Business Context and Reporting Period
Company: Marchex, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 20, 2022
Reporting Period: Event date December 20, 2022; Sublease term April 1, 2023 through September 30, 2027.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. It discloses a specific contractual obligation:
- Asset: Sublease of 12,300 square feet of office space at 1200 5th Avenue, Suite 1300, Seattle, Washington.
- Counterparty: Nelson Worldwide, LLC.
- Total Fixed Rent Obligation: Approximately $1,767,000 over the term.
- Rent Rate: Initial rate of $28 per square foot, increasing annually to $34 per square foot.
Material Changes
The Company entered into a Material Definitive Agreement (Sublease) creating a direct financial obligation. This represents a new long-term lease commitment effective April 1, 2023.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of general risks. The primary contingency is the Company's obligation to pay the fixed monthly rent as defined in the Sublease Agreement.
Investor Verification Checklist
- Verify the full text of the Sublease Agreement to be filed as an exhibit in the next periodic report.
- Confirm the impact of the $1,767,000 fixed rent obligation on future operating cash flows.
- Review the annual rent escalation schedule from $28 to $34 per square foot.