Hims & Hers Health Inc.
09/05/2025 | Press release | Distributed by Public on 09/05/2025 14:53
Material Agreement (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On September 1, 2025 (the "Lease Commencement Date"), Hims, Inc. ("Hims"), a wholly-owned subsidiary of Hims & Hers Health, Inc. (the "Company") entered into a lease agreement (the "Lease") with Mendel New Albany Property Owner LLC (the "Landlord") for the lease of approximately 352,012 square feet of space located at 9885 Innovation Campus Way, New Albany, Ohio (the "Premises"). The Company will use the Premises for office, research and development, laboratory, manufacturing, and pharmaceutical dispensing purposes
The Lease provides for an initial term of 15 years. Hims has two successive options to extend the term for five years each. Rent payments will commence on April 1, 2026 (the "Rent Commencement Date").
The Lease provides for annual base rent of $5,984,204 for the first lease year (approximately $498,684 per month), subject to the abatement provisions described below. Annual base rent will increase by approximately 3.25% each year thereafter.
Annual base rent will be abated in its entirety from the Lease Commencement Date through the day immediately preceding the Rent Commencement Date, and a portion of annual base rent equal to $262,838.42 per month will be abated for the five-month period following the Rent Commencement Date.
In addition to the base rent, Hims is responsible for all operating expenses, including insurance and real estate taxes, with such charges to commence upon the Rent Commencement Date.
As security for its obligations under the Lease, Hims delivered a letter of credit issued by JPMorgan Chase Bank in the amount of $5,984,204.
On September 1, 2025, the Company executed a Guaranty of Lease (the "Guaranty") whereby the Company will guarantee Hims' obligations under the Lease.
The foregoing description of the Lease and the Guaranty do not purport to be complete and are qualified in their entirety by reference to the full text of the Lease and the Guaranty, copies of which are filed as Exhibit 10.1 and 10.2 to this Current Report on Form 8-K and incorporated herein by reference.
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