−Removed: During fiscal year 2025, Astrotech had two existing facility leases and several equipment leases.
−Removed: Astrotech currently leases a research and development facility (the “R&D facility”) of approximately 5,960 square feet in Austin, Texas that includes a laboratory, a small production shop, and offices for staff, although our accounting and administrative employees continue to work remotely.
−Removed: The lease commenced on June 1, 2021 and had an initial lease term of 36 months.
−Removed: On November 11, 2022, the Company signed a lease extension agreement for the R&D facility, extending the term of such lease through April 30, 2025.
−Removed: On November 22, 2022 , Astrotech entered into a sublease agreement for an additional facility (the “subleased facility”) directly adjacent to the R&D facility.
−Removed: The subleased facility consists of approximately 3,900 square feet and provided the space needed as the Company launched its AgLAB and Pro-Control products.
−Removed: The sublease commenced on December 1, 2022 and has a lease term of 29 months.
−Removed: The R&D and Manufacturing Facility and the Subleased Facility are collectively referred to herein as the “Donley Facilities.”
−Removed: On January 20, 2025, the Company entered into a lease extension to extend the terms of the leases associated with the Donley Facilities effective May 1, 2025 (“Donley Facilities Lease Extension”).
−Removed: We are currently continuing to lease on a month-to-month basis.
−Removed: The monthly rent for the Donley Facilities will be $14,186 during the extension period.
−Removed: On January 29, 2025, we entered into a new lease agreement for a facility of approximately 17,628 square feet in Austin, Texas (the “Metric facility”) for a term of 89-months, which such term commences July 1, 2025.
+Added: On January 29, 2025, we entered into a new lease agreement for a facility of approximately 17,628 square feet in Austin, Texas (the “Metric Facility”) for a term of 89-months, which term commenced on July 1, 2025.
The Metric Facility is intended to support and encompass all Austin-based functions.
−Removed: Our total contractual base rent obligation for the Metric facility is approximately $3.0 million, less a tenant allowance of $317.3 thousand.
+Added: Our total contractual base rent obligation for the Metric Facility is approximately $3.0 million, less a tenant allowance of $312.5 thousand, resulting in a net lease commitment of approximately $2.7 million.
Our equipment lease is for a device used in our research and development efforts.
−Removed: We believe that our current facilities and equipment are well maintained and in good condition.
−Removed: The facilities and equipment are adequate for our present needs but not for our currently foreseeable needs.
−Removed: We expect that we will be relocating to the Metric facility during fiscal year 2026.
+Added: We believe that our current facility and equipment are well maintained and in good condition.
+Added: The facility and equipment are adequate for our present needs.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.