Quantum-Si Inc.
09/26/2025 | Press release | Distributed by Public on 09/26/2025 14:02
Material Agreement, Financial Obligation, Termination of Material Agreement (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On September 23, 2025, Quantum-Si Incorporated (the "Company") and Winchester Office LLC ("Winchester") entered into a Settlement and Mutual Release Agreement (the "Mutual Release Agreement") in connection with a lease dated December 28, 2021, by and between the Company, as tenant, and Winchester, as landlord (the "Lease Agreement"), for certain premises in the building located at 115 Munson Street, New Haven, CT, 06511 (the "Premises"). The Lease Agreement was originally expected to expire on July 31, 2032. Pursuant to the Mutual Release Agreement, the Company and Winchester agreed to terminate the Lease Agreement, effective as of September 23, 2025 (the "Early Termination Date"), subject to the terms and conditions therein. The Mutual Release Agreement provides that the Company will surrender the Premises on or prior to the Early Termination Date and will have no further rent obligations after the Early Termination Date.
As consideration for Winchester's agreement to terminate the Lease Agreement as of the Early Termination Date and settle all disputes between the Parties, the Company agreed to pay as an additional fee (the "Termination Fee"), an aggregate sum in the amount of $11,000,000.00 less a $272,618.16 credit for the monthly recurring charges incurred under the Lease Agreement for September 1, 2025 and the surrender of a security deposit in the amount of $573,214.50.
The foregoing description of the Mutual Release Agreement is not complete and is qualified in its entirety by reference to the full text of the Mutual Release Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 1.02 Termination of a Material Definitive Agreement.
The information contained in Item 1.01 of this Current Report on Form 8-K with respect to the Mutual Release Agreement is incorporated by reference into Item 1.02.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report on Form 8-K with respect to the Mutual Release Agreement is incorporated by reference into Item 2.03.
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