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HPTX > SEC Filings for HPTX > Form 8-K on 16-Oct-2013All Recent SEC Filings

Show all filings for HYPERION THERAPEUTICS INC | Request a Trial to NEW EDGAR Online Pro



Entry into a Material Definitive Agreement, Financial Statements and Ex

Item 1.01. Entry into a Material Definitive Agreement.

On October 14, 2013, Hyperion Therapeutics, Inc. (the "Company") and 2000 Sierra Point Parkway LLC (the "Landlord") entered into a lease agreement (the "Lease") under which the Company will lease approximately 20,116 rentable square feet of office space in Brisbane, California (the "Premises").

The initial term of the lease is six years and shall commence upon the later of
i) the Landlord's substantial completion of the improvements to the Premises, or
ii) November 1, 2013 (the "Commencement Date"). Although the Lease does not provide the Company with a termination option, the Lease provides the Company with an option to extend the term of the Lease for five years at the prevailing market rental rate and otherwise on the same terms and conditions as the initial term of the Lease. The Lease also provides that during the initial term and during the five-year extension term, the Company has an ongoing right of first offer to lease approximately 20,116 rentable square feet of space located on the fifth floor in the same building as the Premises. The Lease also provides that in the event the existing tenant vacates the eighth and ninth floors of the same building as the Premises, the Company has a one-time right of first offer to lease both floors, each of which contains approximately 20,116 rentable square feet of space. If the Company declines to exercise its right to lease both floors, the right of first offer will automatically terminate. In addition to operating expenses and certain other additional expenses set forth in the Lease, the Company will pay total base rent of approximately $4.4 million during the initial term of the Lease.

The foregoing description of the terms of the Lease does not purport to be a complete description and is qualified in its entirety by reference to the Lease that is filed as Exhibit 10.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits required by this item are set forth on the Exhibit Index attached hereto.

Number       Description

10.1         Office Lease by and among the Company and 2000 Sierra Point Parkway
             LLC, dated October 14, 2013.

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