inTEST Corp Files 8-K for Material Agreement

TL;DR

inTEST Corp signed a big deal, filing it with the SEC.

AI Summary

On May 24, 2024, inTEST Corporation entered into a Material Definitive Agreement. The company also filed financial statements and exhibits as part of this 8-K filing.

Why It Matters

This filing indicates a significant business event for inTEST Corporation, potentially impacting its operations and financial standing.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's future performance.

Key Players & Entities

• inTEST Corporation (company) — Registrant
• May 24, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — h Registered Common Stock , par value $0.01 per share INTT NYSE American Indica
• $235,200 — nic with an improvement allowance up to $235,200 towards the cost of such alterations to
• $73,500.00 — January 1, 2025 – December 31, 2025 $73,500.00 January 1, 2026 – December 31, 2026 $
• $75,888.75 — 0 January 1, 2026 – December 31, 2026 $75,888.75 January 1, 2027 – December 31, 2027 $
• $78,355.13 — 5 January 1, 2027 – December 31, 2027 $78,355.13 January 1, 2028 – December 31, 2028 $
• $80,901.68 — 3 January 1, 2028 – December 31, 2028 $80,901.68 January 1, 2029 – December 31, 2029 $
• $83,530.98 — 8 January 1, 2029 – December 31, 2029 $83,530.98 January 1, 2030 – December 31, 2030 $
• $86,245.74 — 8 January 1, 2030 – December 31, 2030 $86,245.74 January 1, 2031 – December 31, 2031 $
• $89,048.72 — 4 January 1, 2031 – December 31, 2031 $89,048.72 January 1, 2032 – February 29, 2032 $
• $91,942.81 — 2 January 1, 2032 – February 29, 2032 $91,942.81 The foregoing summary of the Amendment

Filing Documents

• intt20240528_8k.htm (8-K) — 33KB
• ex_680448.htm (EX-10.1) — 54KB
• 0001437749-24-018544.txt ( ) — 229KB
• intt-20240524.xsd (EX-101.SCH) — 3KB
• intt-20240524_def.xml (EX-101.DEF) — 11KB
• intt-20240524_lab.xml (EX-101.LAB) — 15KB
• intt-20240524_pre.xml (EX-101.PRE) — 11KB
• intt20240528_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On May 24, 2024, Temptronic Corporation ("Temptronic"), a subsidiary of inTEST Corporation (the "Company"), entered into a Third Amendment to Lease (the "Amendment") with the BGO TSG 35-41 HAMPDEN OWNER LLC, a Delaware limited liability company (the "Landlord"). The Landlord, as successor in interest to the James Campbell Company, LLC, the successor in interest to the original landlord AMB-SGP Seattle Boston, LLC, and Temptronic are parties to the Commercial Lease Agreement dated October 25, 2010 as amended on March 1, 2011 and as further amended on April 8, 2019 (as amended, the "Lease"). The Amendment is effective as of May 21, 2024 and extends the term of the Lease for the period commencing on January 1, 2025 and expiring on February 29, 2032 (the "Expiration Date"). The Amendment grants Temptronic the option to renew the term of the Lease for two (2) additional consecutive periods of five (5) years each. In connection with the Amendment, Temptronic is permitted to complete certain improvements and alterations to the facility and Landlord agreed to provide Temptronic with an improvement allowance up to $235,200 towards the cost of such alterations to the premises provided such reimbursement request(s) is made to Landlord by Temptronic prior to July 31, 2025. Beginning on January 1, 2025 and through the Expiration Date, the scheduled monthly base rent payments under the Lease will be as follows: Time Period Monthly Base Rent January 1, 2025 – December 31, 2025 $73,500.00 January 1, 2026 – December 31, 2026 $75,888.75 January 1, 2027 – December 31, 2027 $78,355.13 January 1, 2028 – December 31, 2028 $80,901.68 January 1, 2029 – December 31, 2029 $83,530.98 January 1, 2030 – December 31, 2030 $86,245.74 January 1, 2031 – December 31, 2031 $89,048.72 January 1, 2032 – February 29, 2032 $91,942.81 The foregoing summary of the Amendment does not purport to be complete and is qualified in it

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Third Amendment to Lease dated May 21, 2024 between Temptronic Corporation and BGO TSG 35-41 Hampden Owner LLC 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document SIGNATURE 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. inTEST CORPORATION By: /s/ Duncan Gilmour Duncan Gilmour Chief Financial Officer, Treasurer and Secretary Date: May 29, 2024

View Full Filing

View this 8-K filing on SEC EDGAR