Airgain Inc. Enters Material Definitive Agreement

TL;DR

AIRGAIN just signed a big deal, creating a new financial obligation. Details TBD.

AI Summary

On December 31, 2024, Airgain Inc. entered into a material definitive agreement, which also created a direct financial obligation for the company. The specific details of this agreement and the resulting obligation are not fully disclosed in this filing.

Why It Matters

This filing indicates a significant new financial commitment or agreement for Airgain Inc., which could impact its future financial obligations and operations.

Risk Assessment

Risk Level: medium — The creation of a new material definitive agreement and financial obligation introduces potential risks related to the terms, execution, and financial impact on Airgain Inc.

Key Players & Entities

• Airgain Inc. (company) — Registrant
• December 31, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share AIRG Nasdaq Capital Marke
• $699,051 — base rent for the leased space shall be $699,051, or $58,254 on a monthly basis for the
• $58,254 — the leased space shall be $699,051, or $58,254 on a monthly basis for the 12-month per
• $55,000 — lty for which the current amount totals $55,000. The foregoing description of the Lea

Filing Documents

• airg-20241231.htm (8-K) — 47KB
• 0000950170-25-003047.txt ( ) — 158KB
• airg-20241231.xsd (EX-101.SCH) — 24KB
• airg-20241231_htm.xml (XML) — 5KB

01

Item 1.01 Entry into a Material Definitive Agreement. On December 31, 2024, Airgain, Inc. (the "Company") entered into a Third Amendment to Office Lease (the "Lease Amendment") with Kilroy Realty, L.P. to amend the Office Lease, dated June 13, 2013, as amended by the First Amendment to Office Lease dated February 13, 2020 and Second Amendment to Office Lease dated March 3, 2020 (collectively, the "Lease"), relating to the Company's corporate headquarters in San Diego, California. The Lease Amendment extends the term for the Lease from the prior expiration on November 30, 2025 to its new expiration on September 30, 2031. There is no right to further extend the term of the Lease. The Lease Amendment provides that the annual base rent for the leased space shall be $699,051, or $58,254 on a monthly basis for the 12-month period beginning January 1, 2025, which amount shall increase 3% annually beginning on January 1, 2026. The Company is entitled to base rent abatement beginning on January 1, 2025 through October 31, 2025. As collateral for the full performance by the Company of all of its obligations under the Lease, pursuant to the terms of the Lease Amendment, the Company will maintain a previously delivered letter of credit to Kilroy Realty for which the current amount totals $55,000. The foregoing description of the Lease Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease Amendment, which will be filed as an exhibit to the Company's Annual Report on Form 10-K to be filed with respect to the fiscal year ending December 31, 2024.

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure set forth under Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

SIGNATURES

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. AIRGAIN, INC. Date: January 7, 2025 /s/ Michael Elbaz Michael Elbaz Chief Financial Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR