Item 2. Properties
ITEM 2. PROPERTIES
We currently occupy approximately 72,000 square feet of office space in Bedford, Massachusetts, which serves as our headquarters. This site is used for our research and development, sales and marketing, and administrative activities. While we currently own this facility, in April 2021 we entered into a Purchase and Sale Agreement with FDS Bedford, LLC, pursuant to which it may elect to purchase the property. See Note 10 to our audited financial statements included elsewhere in this Annual Report on Form 10-K for more information on this agreement.
In March 2022, we entered into a lease with respect to approximately 20,730 rentable square feet in Burlington, Massachusetts. We expect to take possession of this property in July 2022 and intend to use this property as our headquarters. We believe that this facility will be adequate for our current needs and that additional space sufficient to meet our needs for the foreseeable future will be available on reasonable terms. See Note 11 to our audited financial statements included elsewhere in this Annual Report on Form 10-K for more information on this agreement.
ITEM 3. LEGAL PROCEEDINGS
From time to time, we are involved in litigation incidental to the conduct of our business. We are not party to any lawsuit or proceeding that, in our opinion, is likely to materially impact us or our business.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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PART II
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