SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Item 1.01Entry into a Material Definitive Agreement.
On March 13, 2023, ReShape Lifesciences Inc. (the “Company”) entered into a lease (the “Lease”) with The Irvine Company LLC, a Delaware limited liability company (the “Landlord”), whereby the Company agreed to lease approximately 5,038 square feet at 18 Technology Drive, Suite 110, Irvine, California 92618. The Lease has a term of 36 months commencing on May 1, 2023. The Company intends to relocate its principal executive offices from its current San Clemente, California location to the Irvine, California location. The Company’s lease for its current facility expires on June 30, 2023. The relocation is expected to result in approximately $240,000 in annual cost savings related to the Company’s rent payments under its lease.
Under the Lease, the Company has agreed to pay rent, after an initial two month abatement period, in an initial amount equal to $9,068 per month, subject to subsequent scheduled increases. The Company will also be responsible for its pro rata share of operating expenses, including property taxes. The Lease contains customary representations, warranties, covenants, indemnification provisions, default provisions, and other provisions.
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.
RESHAPE LIFESCIENCES INC.
/s/ Paul F. Hickey
Paul F. Hickey
President and Chief Executive Officer
Dated: March 21, 2023