BigCommerce Enters Material Definitive Agreement
Ticker: CMRC · Form: 8-K · Filed: Jan 10, 2025 · CIK: 1626450
Sentiment: neutral
Topics: material-agreement, filing
TL;DR
BigCommerce signed a new material agreement on Jan 3rd, filing includes financials.
AI Summary
On January 3, 2025, BigCommerce Holdings, Inc. entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this event. The company is incorporated in Delaware and headquartered in Austin, Texas.
Why It Matters
This filing indicates a significant new agreement for BigCommerce, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that may affect the company's financial health and stock performance.
Key Players & Entities
- BigCommerce Holdings, Inc. (company) — Registrant
- January 3, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- Austin, Texas (location) — Address of principal executive offices
FAQ
What type of material definitive agreement did BigCommerce Holdings, Inc. enter into?
The filing states that BigCommerce Holdings, Inc. entered into a 'Material Definitive Agreement' but does not specify the exact nature of the agreement in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 3, 2025.
Where is BigCommerce Holdings, Inc. incorporated?
BigCommerce Holdings, Inc. is incorporated in Delaware.
What is the principal executive office address for BigCommerce Holdings, Inc.?
The principal executive office address is 11305 Four Points Drive, Building II, Suite 100, Austin, Texas 78726.
What items are being reported in this Form 8-K?
This Form 8-K reports on the 'Entry into a Material Definitive Agreement' and 'Financial Statements and Exhibits'.
Filing Stats: 656 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2025-01-10 08:00:09
Key Financial Figures
- $8.3 million — ent under the Sublease is approximately $8.3 million over the 6-year term of the Sublease. T
- $0.3 million — ublessor in the amount of approximately $0.3 million. Subject to certain customary conditi
Filing Documents
- bigc-20250103.htm (8-K) — 46KB
- bigc-ex10_1.htm (EX-10.1) — 143KB
- img164370913_0.jpg (GRAPHIC) — 103KB
- 0000950170-25-003813.txt ( ) — 475KB
- bigc-20250103.xsd (EX-101.SCH) — 28KB
- bigc-20250103_htm.xml (XML) — 5KB
01 Entry into a Material definitive Agreement
Item 1.01 Entry into a Material definitive Agreement. In connection with the restructuring and the execution of an early lease termination clause by BigCommerce Holdings, Inc. (the "Company") with respect to the Company's corporate headquarters previously announced on November 7, 2024, a wholly owned subsidiary of the Company entered into a sublease agreement (the "Sublease") with Expedia, Inc., a Washington Corporation (the "Sublessor"), for approximately 65,000 square feet of office space located at 11901 Alterra Parkway, Domain 11, Austin, Texas 78758 (the "Premises"), effective January 3, 2025. The Company plans to relocate its Austin headquarters, which is the Company's principal executive office, to the Premises. The net rent under the Sublease is approximately $8.3 million over the 6-year term of the Sublease. The Company is responsible for additional expenses, including taxes, and is required to provide a cash security deposit to the Sublessor in the amount of approximately $0.3 million. The Sublease contains customary provisions allowing the Sublessor to terminate the Sublease if the Company fails to remedy a default of any of its obligations under the Sublease within specified periods or upon the bankruptcy or insolvency of the Company. The foregoing summary is qualified in its entirety by reference to the Sublease, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibit. Exhibit No. Description 10.1 Sublease dated January 3, 2025. 104 Cover page interactive data file (embedded within the inline XBRL document).
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. BigCommerce Holdings, Inc. Date: January 10, 2025 By: /s/ Chuck Cassidy Chuck Cassidy, General Counsel