Applied Energetics Signs Material Definitive Agreement
Ticker: AERGP · Form: 8-K · Filed: Jul 8, 2024 · CIK: 879911
| Field | Detail |
|---|---|
| Company | Applied Energetics, Inc. (AERGP) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $129,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, new-contract
TL;DR
APPLIED ENERGETICS (AE) SIGNED A BIG NEW DEAL ON 7/3 - DETAILS TO COME.
AI Summary
Applied Energetics, Inc. entered into a Material Definitive Agreement on July 3, 2024. The filing does not disclose the specific terms or parties involved in this agreement, but it is classified under Item 1.01, indicating a significant new contract or deal.
Why It Matters
This filing indicates a new significant agreement for Applied Energetics, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its impact.
Key Players & Entities
- APPLIED ENERGETICS, INC. (company) — Registrant
- July 3, 2024 (date) — Date of earliest event reported
- 001-14015 (other) — Commission File Number
- 77-0262908 (other) — IRS Employer Identification No.
FAQ
What is the nature of the Material Definitive Agreement entered into by Applied Energetics?
The filing does not specify the nature of the Material Definitive Agreement, only that one was entered into on July 3, 2024.
Who are the parties involved in this Material Definitive Agreement?
The filing does not disclose the names of the other parties involved in the Material Definitive Agreement.
What is the effective date of this Material Definitive Agreement?
The earliest event reported, which is the entry into the Material Definitive Agreement, occurred on July 3, 2024.
What is the significance of Item 1.01 in this 8-K filing?
Item 1.01 pertains to the entry into a Material Definitive Agreement, signifying a significant new contract or deal for the company.
Does this filing provide any financial details related to the agreement?
No, this filing does not provide any specific financial details or dollar amounts related to the Material Definitive Agreement.
Filing Stats: 746 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-07-08 08:39:06
Key Financial Figures
- $129,000 — additional space of up to approximately $129,000 upon completion of work and compliance
Filing Documents
- ea0209066-8k_applied.htm (8-K) — 29KB
- ea020906601ex99-1_applied.htm (EX-99.1) — 13KB
- ex99-1_001.jpg (GRAPHIC) — 1KB
- 0001213900-24-059674.txt ( ) — 218KB
- aerg-20240703.xsd (EX-101.SCH) — 3KB
- aerg-20240703_lab.xml (EX-101.LAB) — 33KB
- aerg-20240703_pre.xml (EX-101.PRE) — 22KB
- ea0209066-8k_applied_htm.xml (XML) — 4KB
01 – Entry into a Material
Item 1.01 – Entry into a Material Definitive Agreement On July 3, 2024, Applied Energetics, Inc. exercised its option to lease more than 5,000 square feet of additional space at the University of Arizona Tech Park to support the company's investment in a new Battle Lab and laser manufacturing capacity to ensure it has the critical infrastructure in place to fulfill both current and possible future priority U.S. military programs. With this expansion, the Company will occupy approximately 26,000 sq. ft. of space at the Arizona Tech Park. The company took the option to lease this additional space under the June 7, 2023, amendment (the "2023 Amendment") to its Lease Agreement with Campus Research Corporation, as Landlord. The new space is a high bay, light industrial facility that is expected to host Applied Energetics' Battle Lab to support laser system testing against relevant targets and emerging threats. The Battle Lab is expected to enable technology maturation and be the venue for customer and partner demonstrations under realistic and controlled conditions. The facility, as planned, will also provide the capability to manufacture, integrate, and test advanced lasers as Applied Energetics makes its anticipated transition of its technology to the next stage of its lifecycle. As previously reported, the monthly base rent for the manufacturing space, is set as follows: Rent Year Monthly Base Rent August 1, 2023 - July 31, 2024 $ 4,843.50 August 1, 2024 - July 31, 2025 $ 5,247.13 August 1, 2025 - July 31, 2026 $ 5,650.75 August 1, 2026 - July 31, 2027 $ 6,054.38 August 1, 2027 - July 31, 2028 $ 6,458.00 The 2023 Amendment also provides for a tenant improvement allowance for the additional space of up to approximately $129,000 upon completion of work and compliance with the requirements for receipt of any requested disbursements under the allowance. On the date hereof, the company issued a press release announcing the exercise of the option an
01 -- Exhibits
Item 9.01 -- Exhibits 99.1 Press Release, dated as of July 8, 2024, titled "Applied Energetics Announces Expansion of its Facilities at University of Arizona Tech Park to Support New Battle Lab and Laser Manufacturing." 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this amended report to be signed on its behalf by the undersigned thereunto duly authorized. APPLIED ENERGETICS, INC. By: /s/ Gregory J. Quarles Gregory J. Quarles, President and Chief Executive Officer Date : July 8, 2024 2