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 June 16, 2025, Liquidia Technologies, Inc., a Delaware corporation (the “Tenant”) and a wholly owned subsidiary of Liquidia Corporation, a Delaware corporation (the “Company”), entered into an Indenture of Lease (the “Lease”), dated as of June 16, 2025, with King Combs LLC, a Delaware limited liability company (the “Landlord”). The Lease is for the Company’s new manufacturing facility, which is approximately 70,131 rentable square feet (the “Premises”) at Pathway Triangle Building 1, 1000 Science Drive, Morrisville, North Carolina, 27560 (the “Building”).
The Lease provides for a term commencing upon June 16, 2025 and expiring on November 1, 2036. Under the terms of the Lease, the Tenant has the option to extend the Lease two times, each for a period of five additional years, by providing written notice to the Landlord not more than 18 months nor less than 12 months prior to the then-current expiration date. In addition, during the term of the Lease, the Lease also provides the Tenant with a one-time “right of first offer” with respect to any space contiguous to the Premises in the Building, when such space becomes available for lease, subject to any terms provided by the Landlord in connection with the offer to lease such space.
Beginning on May 1, 2026 (the “Term Commencement Date”), the Company’s monthly base rent under the Lease will be $260,069.13 for the first 12-month term, which will increase by 3.0% per each subsequent 12-month term; provided, that base rent will be abated during the first six months after the Term Commencement Date. The Tenant will also be responsible for paying operating expenses from and after the Term Commencement Date.
The Lease contains customary representations, warranties, and covenants.
The foregoing description of the Lease is not complete and is qualified in its entirety by reference to the complete terms and conditions of the Lease. A copy of the Lease will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending June 30, 2025.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
Exhibit | |
| 104 | Cover Page Interactive Data File (the cover page tags are 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.
| June 18, 2025 | Liquidia Corporation | ||
| By: | /s/ Michael Kaseta | ||
| Name: | Michael Kaseta | ||
| Title: | Chief Financial Officer and Chief Operating Officer | ||