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

Lyra Therapeutics, Inc.

(Exact name of Registrant as Specified in Its Charter)

(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:

Securities registered pursuant to Section 12(b) of the Act:

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 July 12, 2023, Lyra Therapeutics, Inc. (the “Company”) entered into the Seventh Amendment to Lease (the “Seventh Amendment”) with ARE-480 Arsenal Street, LLC, a Delaware limited liability company (the “Landlord”), which amends the Lease Agreement, dated August 14, 2007, by and between the Company and the Landlord (as amended, the “Lease”), pursuant to which the Company leases approximately 22,343 rentable square feet of office space located in Suites 200 and 200A of 480 Arsenal Street, Watertown, Massachusetts (the “Premises”).

The Seventh Amendment extends the expiration date of the term of the Lease from April 30, 2024 to April 30, 2027 (the “Seventh Amendment Expiration Date”). Under the Seventh Amendment, the Company is obligated to pay the Landlord a base rent for the Premises equal to $95.67 per rentable square foot of the Premises per year. The Company has agreed to continue to pay its share of operating expenses through the Seventh Amendment Expiration Date. The Seventh Amendment also revokes the Company’s right to terminate the Lease after January 1, 2024.

The foregoing description of the Seventh Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Seventh Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Item 9.01 Financial Statements and 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.