Current Report Filing (8-k)
December 09 2020 - 5:29PM
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): December 4, 2020
Dyne Therapeutics, Inc.
(Exact Name of Registrant as Specified in Charter)
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Delaware
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001-39509
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36-4883909
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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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830 Winter Street
Waltham, Massachusetts
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02451
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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: (781)
786-8230
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 (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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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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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:
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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, $0.0001 par value per share
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DYN
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Nasdaq Global Select Market
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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 (§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 December 4, 2020, Dyne Therapeutics, Inc. (the Company) entered into a lease agreement (the Lease) with BP3-BOS1 1560 Trapelo Road LLC, a Delaware limited liability company (the Landlord), pursuant to which the Company will lease approximately 68,187 square feet of office and laboratory space located at
1560 Trapelo Road, Waltham, Massachusetts (the Premises).
Under the terms of the Lease, the Landlord has agreed to make certain leasehold
improvements to the Premises to suit the Companys use (the Improvements). The term of the Lease commences on the earlier of (1) the date the Company commences it business operations in the Premises and (2) the date the
Improvements are substantially completed and necessary occupancy permits are obtained (the Commencement Date). The Lease will have a term of approximately eight years and six months. The Companys obligation for the payment of base
rent for the Premises begins six months after the Commencement Date and will be $383,551.88 per month and will increase by approximately 3% per annum, up to a maximum monthly base rent of $471,720.43 during the term of the Lease. The Company has two
options to the extend the term of the Lease each for a period of an additional five years.
In connection with its entry into the Lease and as a security
deposit, the Company will deposit with the Landlord a letter of credit in the amount of approximately $2.3 million, which may be reduced to approximately $1.9 million on the 24-month anniversary of
the Commencement Date. The Company also has the right to replace the letter of credit with a cash security deposit.
The Landlord has the right to
terminate the Lease upon specified events of default, including the Companys failure to pay rent in a timely manner and upon the occurrence of certain events of insolvency with respect to the Company. The Company may also terminate the Lease
if the Premises are not ready for occupancy within a specified time period after the anticipated Commencement Date.
The foregoing summary of the Lease
does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which is attached hereto as Exhibit 10.1 and is incorporated into this Item 1.01 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 set forth in or incorporated by reference into Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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DYNE THERAPEUTICS, INC.
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Date: December 9, 2020
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By:
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/s/ Joshua Brumm
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Name:
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Joshua Brumm
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Title:
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President and Chief Executive Officer
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