UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On June 20, 2024, Cellectar Biosciences, Inc. (the “Company”) entered into a Second Amendment of Lease (the “Amended Lease”), with CAMPUS 100 LLC (the “Landlord”).
Under the Amended Lease, the Company will continue to lease 3,983 square feet of rentable area on the second floor of a building located at 100 Campus Drive in Florham Park, New Jersey (the “Building”). The Company will also lease 7,829 square feet of rentable area on the first floor of the Building, commencing on the date on which the Landlord has substantially completed certain improvements and work described in the Amended Lease (the “Second Amendment Commencement Date”) until the Second Amendment Expiration Date (as defined below). Under the terms of the Amended Lease, the expiration date is extended from April 30, 2029 until the date that is the last day of the seventy-fourth Second Amendment Lease Month as described in the Amended Lease (the “Second Amendment Expiration Date”).
Under the terms of the Amended Lease, the Company deposited a sum of $45,669.17 as an additional security deposit. The aggregate security deposit held by the Landlord equals $69,235.25. The aggregate rent due under the Amended Lease following the Second Amendment Commencement Date, is approximately $2,534,000. The Company will also be required to pay its proportionate share of certain operating expenses and real estate taxes applicable to the entire 11,812 square feet of leased premises. The foregoing description of the Amended Lease does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Amended Lease, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 above is incorporated by reference herein.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CELLECTAR BIOSCIENCES, INC. | ||
| Date: June 25, 2024 | By: | /s/ Chad J. Kolean |
| Chad J. Kolean | ||
| Chief Financial Officer | ||