Antares Pharma, Inc. (ATRS)

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Item 1.01 Entry into a Material Definitive Agreement.

On July 1, 2019, Antares Pharma, Inc. (the “Company”) entered into a lease agreement (the “Lease”) with Whitewater Properties I, LLC (the “Landlord”) for approximately 75,785 square feet of office, laboratory, manufacturing and warehousing space in the building known as 12500 Whitewater Drive, Minnetonka, Minnesota. The initial term of the Lease is 12 years and the Company may renew the Lease, at its option, for one additional renewal period of three years. The Landlord delivered possession of the premises to the Company on July 1, 2019 (the “Delivery Date”) and payment of rent will commence on January 1, 2020. The annual base rent is $180,372 in year one, $281,160 in year two, and $625,224 in year three, with annual increases of approximately 2% thereafter over the remaining initial lease term. The Company will also pay additional rent for operating expenses, insurance premiums and taxes. The Company is performing the build-out of the premises at the Company’s cost with an allowance provided by the Landlord of up to approximately $1.2 million, to be disbursed over four disbursement periods, all within 36 months after the Delivery Date.

The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the Lease, which is filed as Exhibit 10.1 to this Form 8-K and 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 set forth in Item 1.01 of this Current Report on Form 8-K pertaining to the Lease is incorporated by reference into this Item 2.03.
https://www.sec.gov/Archives/edgar/data/1016169/000156459019024598/atrs-ex101_6.htm