$BLUE Form 8-K

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957

Form 8-K for BLUEBIRD BIO, INC.


 

Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive AgreementOn June 29, 2015, bluebird bio, Inc. (the “Company”) entered into a Lease Agreement (the “Lease) with ARE-MA Region No. 38 for additional office space located at 215 First Street, Cambridge, Massachusetts to supplement the Company’s current headquarters at 150 Second Street, Cambridge, MA 02141. In connection with the execution and delivery of the Lease, the parties will also enter into a license agreement for a non-exclusive right to use a shared conference facility.

The Company will lease approximately 15,120 square feet starting on July 13, 2015, subject to the current tenant vacating on schedule, for $483,840 per year in base rent, which is subject to a 3% annual increase plus certain operating expenses and taxes. The Lease will continue until the end of the 60th full calendar month following the date the landlord delivers the premises to the Company, but if the current tenant’s departure is delayed and the landlord is unable to deliver the premises by September 1, 2015, the Company may elect to terminate the Lease by written notice delivered within 10 business days to the landlord.

Under the terms of the Lease, the Company will also lease an additional 8,075 square feet of office space in the same premises starting on January 1, 2016, subject to the current tenant vacating on schedule, for an additional $258,400 per year in base rent, which is subject to a 3% annual increase plus certain operating expenses and taxes. If the current tenant’s departure is delayed and the landlord is unable to deliver the additional rented space by January 31, 2016, the Company may elect to terminate the portions of the Lease relating to the additional office space by written notice delivered within 10 business days to the landlord.

The foregoing description of the terms of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, which will be filed with the Company’s Quarterly Report on Form 10-Q for the period ending on June 30, 2015.

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