Fluidigm: Entry Into A Material Definitive Agreement
The following excerpt is from the company's SEC filing
On October 14, 2013, Fluidigm Singapore Pte Ltd. (“Fluidigm Singapore”), a wholly-owned subsidiary of Fluidigm Corporation (the “Company”), accepted an offer of tenancy (the “Lease”) from HSBC Institutional Trust Services (Singapore) Limited, as trustee of Ascendas Real Estate Investment Trust (the “Landlord”), relating to the lease of a facility located at Block 5008, Ang Mo Kio Avenue 5, TECHplace II, Singapore 569874. Pursuant to the terms of the Lease, it is expected that Fluidigm Singapore will be in possession of the facility commencing on March 2, 2014, and that the Lease and rental obligations thereunder will commence on June 2, 2014 for a term of 96 months. Aggregate gross rent due under the Lease will be SGD$6,403,812 (approximately US$5,137,458). Singapore Dollars (SGD) are converted to US Dollars (USD) at a rate of 1 SGD to 0.80225 USD, the conversion rate as of October 14, 2013. The Lease also provides Fluidigm Singapore with an option to renew the Lease for an additional 60 months at the then prevailing market rent, and on similar terms as the existing Lease, and a right of first refusal on certain additional space in the building beginning June 2, 2014 until June 1, 2015.
The leases for Fluidigm Singapore’s existing facilities terminate in 2014 and 2016. Fluidigm Singapore intends to consolidate its manufacturing operations in the new space in the third quarter of 2014.
The foregoing summary of the Lease does not purport to be complete and is qualified in its entirety by reference to the Lease, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ending December 31, 2013.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Fluidigm Corporation next reports earnings on October 30, 2013.
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