Current Report Filing (8-k)
September 20 2018 - 05:05PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): September 14, 2018
Versartis, Inc.
(Exact
name of registrant as specified in its charter)
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DELAWARE
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001-36361
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26-4106690
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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1020 Marsh Rd
Menlo Park, California
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94025
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code (650)
963-8580
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule
12b-2
of the Securities Exchange Act of 1934.
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 1.01 Entry into a Material Definitive Agreement.
On September 14, 2018, the Sublease dated August 21, 2018 (the Sublease Agreement) by and between Versartis, Inc. (the
Company) and Eva Automation, Inc. (Subtenant) became effective, whereby the Company agreed to sublease to Subtenant all of the approximately 34,464 rentable square feet of office space in Menlo Park, California currently
leased pursuant to the Companys lease with Bohannon Associates, a California partnership, dated March 17, 2017 (the Master Lease). The term of the sublease is through October 31, 2024, unless the Master Lease is
terminated earlier due to a breach by Subtenant. The aggregate base rent due to the Company under the Sublease is approximately $13 million. Subtenant will also pay to the Company, as additional rent, an amount equal to the Companys share
of operating expenses attributable to the subleased premises due under the Master Lease. Upon the execution of the Sublease, Subtenant was obligated to provide to the Company a cash security deposit of $760,726.80. The Company is obligated to return
the security deposit then on deposit to Subtenant within 30 days following the expiration or sooner termination of the Sublease Agreement, provided Subtenant is not then in default. Pursuant to the Sublease Agreement, the Company agreed to transfer
certain furniture and equipment located in the subleased premises to Subtenant for $1.00. Pursuant to the terms of the Sublease, the Company assumes certain obligations of the landlord as set forth in the Master Lease.
The foregoing description of the Sublease is a summary, is not complete, and is qualified in its entirety by the terms and conditions of the actual Sublease,
which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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Versartis, Inc.
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Date: September 20, 2018
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/s/ Jay P. Shepard
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Name:
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Jay P. Shepard
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Title:
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Chief Executive Officer and President
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(Duly Authorized Officer)
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