Monitor for future filings confirming master landlord consent, as the sublease is contingent on this approval. The rent expense will impact Rigetti's operating costs over the lease term.
Price Chart
Executive Summary
Rigetti Computing subsidiary Rigetti & Co., LLC entered into a sublease agreement with Chinook Therapeutics for 12,543 square feet of office and laboratory space in Berkeley, CA, subject to master landlord approval. The lease term runs through November 30, 2029, with initial monthly rent of $38,111.91 and a $50,000 security deposit.
Key Financial Metrics
Key Facts
- Rigetti & Co., LLC will sublease 12,543 rentable square feet from Chinook Therapeutics at 740 Heinz Avenue, Berkeley, CA
- Sublease term expires on November 30, 2029, subject to master landlord consent
- Initial monthly base rent is $38,111.91, increasing annually to $41,645.91 in year 4
- Subtenant will pay 11.19% of operating expenses and taxes
- Security deposit of $50,000 required
Financial Impact
Approximately $1.5 million in base rent over the 4-year term, plus pro-rata share of operating expenses and taxes
Risk Factors
- Sublease contingent on master landlord consent, which if not obtained within 60 days allows either party to terminate
- Obligation to pay pro-rata share of operating expenses and taxes in addition to base rent
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-045994 |
| Document: tm2612288d1_8k.htm | 0001104659-26-045994 |
| Document: 0001104659-26-045994-index-headers.html | 0001104659-26-045994 |
| Document: 0001104659-26-045994-index.html | 0001104659-26-045994 |
| Document: 0001104659-26-045994.txt | 0001104659-26-045994 |
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