Instil Bio Enters Material Definitive Agreement
Ticker: TIL · Form: 8-K · Filed: Jul 11, 2024 · CIK: 1789769
| Field | Detail |
|---|---|
| Company | Instil Bio, INC. (TIL) |
| Form Type | 8-K |
| Filed Date | Jul 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.000001, $627,276.00, $7,527,312.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, new-contract
TL;DR
Instil Bio just signed a big deal, details TBD.
AI Summary
Instil Bio, Inc. announced on July 10, 2024, that it has entered into a Material Definitive Agreement. The filing does not provide specific details about the nature of the agreement, the other parties involved, or any associated financial terms.
Why It Matters
This filing indicates a significant new contract or partnership for Instil Bio, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and implications of the agreement.
Key Players & Entities
- Instil Bio, Inc. (company) — Registrant
- July 10, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the Material Definitive Agreement entered into by Instil Bio, Inc.?
The filing states that Instil Bio, Inc. entered into a Material Definitive Agreement on July 10, 2024, but does not specify the details of the agreement.
Who are the other parties involved in this Material Definitive Agreement?
The filing does not disclose the names of the other parties involved in the Material Definitive Agreement.
Are there any financial terms or obligations associated with this agreement?
The provided filing does not contain information regarding any financial terms or obligations related to the Material Definitive Agreement.
When was the Material Definitive Agreement entered into?
The Material Definitive Agreement was entered into on July 10, 2024.
What is the primary business of Instil Bio, Inc.?
Instil Bio, Inc. is involved in the business of Biological Products (No Diagnostic Substances).
Filing Stats: 637 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-07-11 17:00:24
Key Financial Figures
- $0.000001 — ange on which registered Common Stock, $0.000001 par value TIL The Nasdaq Stock Market L
- $627,276.00 — rmination fee. The initial base rent is $627,276.00 per month ($7,527,312.00 annually) and
- $7,527,312.00 — ial base rent is $627,276.00 per month ($7,527,312.00 annually) and the base rent will escala
Filing Documents
- til-20240710.htm (8-K) — 30KB
- 0001789769-24-000075.txt ( ) — 154KB
- til-20240710.xsd (EX-101.SCH) — 2KB
- til-20240710_lab.xml (EX-101.LAB) — 22KB
- til-20240710_pre.xml (EX-101.PRE) — 13KB
- til-20240710_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On July 10, 2024, Complex Therapeutics LLC ("Landlord"), a wholly owned subsidiary of Instil Bio, Inc. (the "Company"), entered into a lease (the "Lease") with AstraZeneca Pharmaceuticals LP ("Tenant") pursuant to which Tenant is leasing Landlord's facility in Tarzana, CA. The Lease has an initial term of approximately 15 years, beginning on July 10, 2024 (the "Commencement Date") and ending on July 31, 2039, with Tenant having (i) two consecutive options to extend the term for a five year period each and (ii) a one-time option to terminate the Lease on the tenth anniversary of the Commencement Date, which, if exercised, obligates Tenant to pay Landlord a termination fee. The initial base rent is $627,276.00 per month ($7,527,312.00 annually) and the base rent will escalate by 3% per annum. Tenant is also required to pay certain operating expenses and tax expenses as additional rent. There is rent abatement during the first year of the Lease such that Tenant will pay no rent or reduced rent during this period. Tenant also has a right of first offer to purchase the premises that are subject to the Lease. The foregoing summary of the Lease is only a summary of the material terms of the Lease and does not purport to be a complete description of the rights and obligations of the parties thereunder, and is qualified in its entirety by reference to the full text of the Lease, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Instil Bio, Inc. Dated: July 11, 2024 By: /s/ Sandeep Laumas, M.D. Sandeep Laumas, M.D. Chief Financial Officer and Chief Business Officer (Principal Financial Officer and Principal Accounting Officer)