Current Report Filing (8-k)
March 30 2021 - 5:38PM
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): March 25, 2021
ADVAXIS,
INC.
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(Exact
name of registrant as specified in its charter)
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Delaware
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001-36138
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02-0563870
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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9
Deer Park Drive, Suite K-1,
Monmouth
Junction, New Jersey
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08852
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (609) 452-9813
305
College Road East, Princeton, New Jersey 08540
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(Former
name or former address, if changed since last report.)
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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 (see General Instruction A.2. below):
[ ]
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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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[ ]
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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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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Common
stock, par value $0.001 per share
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ADXS
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Nasdaq
Capital Market
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Preferred
Stock Purchase Rights
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-
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Nasdaq
Capital Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act
of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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
March 25, 2021 (the “Commencement Date”), Advaxis, Inc. (the “Company”) entered into a Lease Agreement
(“New Lease Agreement”) with Princeton Corporate Plaza, LLC providing for the lease of additional laboratory and office
space located at 9 Deer Park Drive, Suite K-1, Monmouth Junction, NJ 08540 (the “New Premises”) with a term expiring
one (1) year from the Commencement Date (the “Term”).
A
copy of the New Lease Agreement is included as Exhibit 10.1. The foregoing description of the New Lease Agreement is a summary,
does not purport to be a complete and is qualified in its entirety by reference to the full text of the New Lease Agreement, which
is incorporated herein by reference.
Item 1.02 Termination of a Material Definitive Agreement
On
March 26, 2021, the Company entered into a Lease Termination and Surrender Agreement (the “Termination Agreement”)
with 300 CR LLC with respect to the Company’s Lease Agreement, dated May 27, 2015, as previously amended by the First Amendment
to Lease Agreement dated February 1, 2016 and as further amended by a Second Amendment to Lease Agreement dated August 29, 2016
(collectively, the “Lease Agreement”) for the lease of its headquarters located at 305 College Road East, Princeton
NJ 08540. The Termination Agreement provides for the early termination of such lease effective March 31, 2021 (the “Termination
Date”). Prior to the execution of the Termination Agreement, the lease had been scheduled to expire on November 30, 2025
(the “Original Termination Date”).
As
a result of the Termination Agreement, the Company expects to realize cost savings of approximately $1,692,000 per year through
the Original Termination Date, after giving effect to the payment of monthly rent and other taxes, charges, costs and expenses
payable under the New Lease Agreement.
A
copy of the Termination Agreement is included as Exhibit 10.2. The foregoing description of the Termination Agreement is a summary,
does not purport to be a complete and is qualified in its entirety by reference to the full text of the Termination Agreement,
which is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The
information required by this Item 2.03 is set forth in Item 1.01 — Entry into a Material Definitive Agreement above and
incorporated herein by reference.
Item 8.01 Other Events
Effective
as of the Commencement Date, the Company has determined to relocate its corporate headquarters to the New Premises.
Item 9.01 Financial Statements and Exhibits
(d)
Exhibits
*
Portions of this exhibit are redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K.
SIGNATURE
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.
March
30, 2021
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ADVAXIS,
INC.
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By:
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/s/
Kenneth A. Berlin
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Name:
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Kenneth
A. Berlin
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Title:
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President
and Chief Executive Officer, Interim Chief Financial Officer
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