NVE Corp Files 8-K Amendment for 1998 Agreement
Ticker: NVEC · Form: 8-K/A · Filed: Nov 7, 2024 · CIK: 724910
| Field | Detail |
|---|---|
| Company | Nve CORP /New/ (NVEC) |
| Form Type | 8-K/A |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $15,416.24, $17,214.21, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, material-agreement, historical-filing
Related Tickers: NVEE
TL;DR
NVE Corp filed an amendment to an old 8-K from 1998 about a material agreement.
AI Summary
NVE Corp filed an amendment (Amendment No. 5) to its Form 8-K on November 7, 2024, reporting an event that originally occurred on October 1, 1998. This filing pertains to an entry into a material definitive agreement. The company, incorporated in Minnesota, is involved in the semiconductors & related devices industry.
Why It Matters
This amendment clarifies a historical material definitive agreement, providing updated information or corrections to a past event that could impact the understanding of NVE Corp's contractual history.
Risk Assessment
Risk Level: low — This is an amendment to a historical filing and does not appear to introduce new material events or risks.
Key Numbers
- 000-12196 — SEC File Number (Identifies the company's filing with the SEC)
- 41-1424202 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- NVE Corp (company) — Registrant
- October 1, 1998 (date) — Earliest event reported
- November 7, 2024 (date) — Filing date
- Minnesota (location) — State of incorporation
- 3674 (industry_code) — Standard Industrial Classification
FAQ
What specific material definitive agreement is being amended?
The filing does not specify the exact nature of the material definitive agreement being amended, only that it is an 'Entry into a Material Definitive Agreement'.
Why was an amendment filed for an event from 1998?
The filing is an amendment (Amendment No. 5) to a Form 8-K, indicating that corrections or updates are being made to previously reported information concerning an event from October 1, 1998.
What is the significance of the filing date being November 7, 2024, for a 1998 event?
The filing date of November 7, 2024, is when the amendment was submitted to the SEC, while the original event reported occurred on October 1, 1998.
What industry does NVE Corp operate in?
NVE Corp operates in the 'SEMICONDUCTORS & RELATED DEVICES' industry, with a Standard Industrial Classification code of 3674.
Where is NVE Corp headquartered?
NVE Corp's principal executive offices are located at 11409 Valley View Road, Eden Prairie, Minnesota 55344.
Filing Stats: 831 words · 3 min read · ~3 pages · Grade level 10.5 · Accepted 2024-11-07 16:09:52
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value NVEC The NASDAQ Stock Mar
- $15,416.24 — ur monthly base rent will increase from $15,416.24 for March 2026 under the current lease
- $17,214.21 — r March 2026 under the current lease to $17,214.21 on April 1, 2026 under the Sixth Amendm
- $100,000 — s of the additional term and provides a $100,000 improvement allowance subject to certai
Filing Documents
- nvec-19981001.htm (8-K/A) — 26KB
- nve_ex10z7.htm (EX-10.7) — 30KB
- nve8kz_1.gif (GRAPHIC) — 1KB
- 0001376474-24-000647.txt ( ) — 192KB
- nvec-19981001_def.xml (EX-101.DEF) — 2KB
- nvec-19981001_lab.xml (EX-101.LAB) — 16KB
- nvec-19981001_pre.xml (EX-101.PRE) — 11KB
- nvec-19981001.xsd (EX-101.SCH) — 2KB
- nvec-19981001_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. General Information Effective November 4, 2024 we executed a Sixth Amendment between us and our landlord, GRE – Bryant Lake, LLC, to a lease agreement originally effective October 1, 1998 covering the building housing our offices and manufacturing. The building consists of approximately 21,362 square feet of offices, laboratories, and production areas. Our lease would have expired March 31, 2026 without the Sixth Amendment. Description of the Terms and Conditions of the Amendment The Sixth Amendment extends the lease for an additional term of 62 months through May 31, 2031. The lease may be further extended at our option subject to certain conditions. Our monthly base rent will increase from $15,416.24 for March 2026 under the current lease to $17,214.21 on April 1, 2026 under the Sixth Amendment, with additional annual increases specified. The Sixth Amendment also provides free base rent for the first two months of the additional term and provides a $100,000 improvement allowance subject to certain conditions. The foregoing descriptions of the lease and amendments do not purport to be complete and are qualified in their entirety by reference to the full text of the Sixth Amendment filed as Exhibit 10.7 and the other documents incorporated by reference to this Current Report Amendment Number 5 to Form 8-K/A and incorporated by reference into this Item 1.01. 2 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. Date November 7, 2024 NVE CORPORATION (Registrant) /s/ DANIEL A. BAKER Daniel A. Baker President and Chief Executive Officer 3 INDEX TO EXHIBITS Exhibit # Description 10.1 Lease dated October 1, 1998 between the company and Glenborough Properties, LP (incorporated by reference to the Form 10-QSB for the period ended September 30, 2002).