UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
On February 28, 2023, Savara Inc. (“Savara”) entered into an amendment (the “Amendment”) to the Agreement of Lease, dated July 7, 2021, between Savara and 1717 OSSRE, LLC (the “Lease”) in order to increase the size of Savara’s offices in Langhorne, PA. Savara plans to relocate its headquarters to this location.
Pursuant to the Lease, Savara currently leases 2,465 square feet of office space on the third floor of the building located at 1717 Langhorne Newtown Road, Langhorne, PA 19047 (the “Langhorne Offices”) and makes monthly rental payments of approximately $5,850. Under the terms of the Lease, as amended by the Amendment (“the Amended Lease”), beginning on July 1, 2023, the Langhorne Offices will be expanded to include an additional 3,970 square feet, the term of the Amended Lease will continue until June 30, 2026, and Savara agrees to make monthly rental payments of approximately $14,200 from July 1, 2023 to June 30, 2024, $14,500 from July 1, 2024 to June 30, 2025, and $14,700 from July 1, 2025 to June 30, 2026. The Amended Lease contains customary events of default, representations, warranties, and covenants.
The foregoing descriptions of Lease and the Amendment are not complete and are qualified in their entirety by reference to the Lease and the Amendment, which Savara plans to file with its Form 10-Q for the period ended March 31, 2023.
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.
| Date: March 2, 2023 | SAVARA INC. a Delaware corporation | |||||
| By: | /s/ Dave Lowrance | |||||
| Dave Lowrance Chief Financial & Administrative Officer | ||||||