UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 7, 2020
Lantronix, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | | 1-16027 | | 33-0362767 |
(State or other jurisdiction
of incorporation) | | (Commission File Number) | | (IRS Employer
Identification No.) |
| | | | | |
7535 Irvine Center Drive, Suite 100
Irvine, California 92618 |
| (Address of Principal Executive Offices, including zip code) |
| | | | | |
| Registrant’s telephone number, including area code: (949) 453-3990 |
| |
| Not Applicable |
| (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each Class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, $0.0001 par value | LTRX | The Nasdaq Stock Market LLC |
| | | | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of Exchange Act.☐
| Item 1.01 | Entry into a Material Definitive Agreement. |
On May 7, 2020, Lantronix, Inc. (the “Company”) entered into a First Amendment to Lease Agreement dated May 7, 2020 (“Amendment No. 1”) to its existing Lease Agreement dated January 9, 2015 (the “Lease”) with the Irvine Company, LLC (the “Landlord”). Pursuant to Amendment No. 1, the term of the Lease, covering approximately 26,897 square feet of office space for the Company’s corporate headquarters in Irvine, California, has been extended to January 31, 2022.
The basic rent payable under Amendment No. 1 will be $22,862.45 for the month of January 2021, $45,724.90 per month from February 1, 2021 to December 31, 2021, and $47,607.69 for the month of January 2022. The Company is also obligated to pay as additional rent its proportionate share of Landlord’s operating expenses, including property taxes.
The foregoing summary of Amendment No. 1 does not purport to be complete and is subject to and qualified in its entirety by the full text of Amendment No. 1, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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.
| | LANTRONIX, INC. |
| | | |
| | By: | | /s/ Jeremy Whitaker |
| | | | Jeremy Whitaker |
| | | | Chief Financial Officer |
Date: May 12, 2020
