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CYNO > SEC Filings for CYNO > Form 8-K on 2-Dec-2013All Recent SEC Filings

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Entry into a Material Definitive Agreement, Other Events, Financial Statements and E

Item 1.01. Entry Into a Material Definitive Agreement

On November 25, 2013, Palomar Medical Technologies, LLC (the "Seller"), a Delaware limited liability company and a wholly owned subsidiary of Cynosure, Inc., a Delaware corporation (the "Company"), and Network Drive Owner, LLC, a Delaware limited liability company (the "Buyer" and together with the Seller, the "Parties"), entered into a Purchase and Sale Agreement (the "Sale Agreement") for the sale of certain property, including the Seller's former headquarters, located at 15 Network Drive, Burlington, MA 01803 (the "Burlington Property") for a purchase price of $25.75 million. The sale transaction also closed on November 25, 2013.

In connection with the Sale Agreement, the Company and the Buyer entered into a lease agreement (the "Lease") pursuant to which the Company will occupy the building through June 30, 2014 on a rent-free basis. Under the terms of the Lease, the Company has a limited option to extend the term of the Lease through July 31, 2014.

The above descriptions do not purport to be complete and are qualified in their entirety by reference to the Sale Agreement (and the form of Lease attached to the Sale Agreement), a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.

Item 8.01. Other Events

On December 2, 2013, the Company issued a press release announcing the sale of the Burlington Property. A copy of the press release is filed herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

10.1    Purchase and Sale Agreement, dated November 25, 2013, between the Seller
        and the Buyer

99.1    Press Release issued by the Company on December 2, 2013

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