Company: OFIX
Filing Date: 2025-04-07
Form Type: 8-K
Source: 0000950170-25-051645
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Company: Orthofix Medical Inc.
Filing Date: 2025-04-07
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On April 1, 2025, Orthofix Medical Inc. (the “ Company”) became tenant under a new lease governing its Carlsbad, California office location (5770 Armada Drive) (the “ New Lease”), which became effective on such date. The Company had previously been tenant pursuant to a prior sublease with respect to such location (which is filed as Exhibit 10.12 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024), which sublease terminated as of such date.

The New Lease provides for a term through October 31, 2037. The Company’s monthly rent, which includes 3.5% annual increases, is estimated to have a total pre-tax occupancy cost of approximately $34.6 million over the 12.5 year term of the lease. In addition to monthly rent, the Company is also obligated to pay the real estate taxes, insurance costs and utility and other expenses for the property.