Item 2. Properties
Item 2. Properties
As of May 26, 2024, the Company owned or leased the following principle physical properties:
Location Ownership Facilities
Chaska, MN Owned 148,200 square feet of office, laboratory and manufacturing space
Chaska, MN Leased 80,950 square feet of office, manufacturing and warehouse space
Chanhassen, MN Leased 21,384 square feet of warehouse and office space
Leases for these leased facilities expire at various dates through the year 2033. All of our owned real property is subject to liens in favor of the lenders under our 2020 credit agreement, as amended, with BMO Harris Bank N.A. (“BMO”) as administrative agent.
The Company does not anticipate experiencing significant difficulty in retaining occupancy of any of our manufacturing, laboratory, or office facilities through lease renewals prior to expiration or through month-to-month occupancy, or in replacing them with equivalent facilities. We believe our existing facilities, both owned and leased, are in good condition and suitable for the conduct of our business.
Item 3. Legal Proceedings
The information contained in “Part IV, Item 15. Note 9 - Commitments and Contingencies” included elsewhere in this Annual Report on Form 10-K is incorporated herein by reference.
Item 4. Mine Safety Disclosures
Not applicable.
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Table of Contents
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.