Item 1.01 Entry into a Material Definitive Agreement.
On October 19, 2018, miraDry, Inc. (formerly known as Miramar Labs, Inc.) (“miraDry”), a Delaware corporation and wholly-owned subsidiary of Sientra, Inc. (the “Company”), entered into a First Amendment to the Lease (the “Lease Amendment”), effective October 9, 2018 with IPX Walsh Bowers Investors, L.P. (the “Landlord”). The Lease Amendment amends the Lease dated December 16, 2013, as amended (collectively, the “Lease”), for the office space located at 2845 Bowers Avenue, 2855 Bowers Avenue, and 2790 Walsh Avenue, Santa Clara, California containing approximately 29,256 rentable square feet (the “Premises”). The Lease Amendment extends the term for the Lease for a period ofsixty-two (62) months until its new expiration on July 31, 2024. Pursuant to the Lease Amendment, miraDry agreed to provide an amendment to its existing letter of credit in the amount of $295,067 to extend the expiration date of such letter until September 30, 2024.
The foregoing description of the terms of the Lease Amendment is qualified in its entirety by reference to the text of such document, a copy of which will be filed by the Company in accordance with the rules and regulations of the Securities and Exchange Commission.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under anOff-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Current Report on Form8-K is incorporated by reference into this Item 2.03.