UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On September 27, 2022, Silverback Therapeutics, Inc. (the “Company”) entered into a Second Amendment to Lease (the “Second Amendment”), which amends that certain Lease with BMR-500 Fairview Avenue LLC (the “Landlord”), dated June 8, 2016, as amended (the “Lease”), providing for the lease of approximately 19,829 square feet of rentable area of the building located at 500 Fairview Avenue North, Seattle, Washington 98109 (the “Premise”).
Pursuant to the Second Amendment, the lease term will expire on December 31, 2022 (the “Expiration Date”). The Company will continue to be responsible for all rent under the Lease until the Expiration Date. The Second Amendment was contingent upon the full execution and delivery of a new lease for the Premise by and between the Landlord and a new tenant, which was completed on September 27, 2022.
The foregoing summary of the Second Amendment does not purport to be a complete description of the document and is qualified in its entirety by the Second Amendment, a copy of which is filed as Exhibit 10.1 to this report.
| Item 1.02 | Termination of a Material Definitive Agreement. |
On September 27, 2022, the Company delivered a notice of termination with respect to the Lease. The termination is effective as of December 31, 2022.
A description of the material terms of the Lease was included in Item 2 of the Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed by the Company on March 31, 2022 (the “Form 10-K”), which is incorporated herein by reference. The description of the Lease incorporated by reference is not complete and is subject to and qualified in its entirety by the Lease, a copy of which is filed as Exhibit 10.9 of the Form 10-K. No termination fee is required to be paid to the Landlord.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1 | Second Amendment to Lease, dated September 27, 2022, by and between the Company and BMR-500 Fairview Avenue LLC. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
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.
| SILVERBACK THERAPEUTICS, INC. | ||
| By: | /s/ Jeffrey C. Pepe, Ph.D., J.D. | |
| Jeffrey C. Pepe, Ph.D., J.D | ||
| Interim Chief Executive Officer | ||
Dated: September 30, 2022