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Boundless Bio (NASDAQ: BOLD) pays $10M to exit long-term lab lease

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Boundless Bio, Inc. has agreed to terminate its long-term laboratory and office lease in San Diego. The Lease covered approximately 80,168 rentable square feet at 10955 Alexandria Way and was previously scheduled to run until October 31, 2034. Under a Lease Termination Agreement with the landlord, the Lease will now end effective May 31, 2026. As consideration, Boundless Bio will pay a lease modification amount of $10.0 million, and the landlord will draw and retain the Company’s security deposit of about $0.5 million. The agreement became effective after the landlord secured a new tenant for the premises.

Positive

  • None.

Negative

  • None.

Insights

Boundless Bio trades future lease obligations for a near-term cash cost.

Boundless Bio is exiting a large, long-dated lab and office lease that was originally set to run through October 31, 2034. The space covers 80,168 rentable square feet, suggesting a sizable ongoing occupancy commitment was in place.

To terminate the lease effective May 31, 2026, the Company will pay a $10.0 million lease modification amount and forgo about $0.5 million of security deposit. Economically, this concentrates costs into the near term while eliminating many years of future rent.

The filing also characterizes this as creating a direct financial obligation, highlighting that the termination payments are significant enough to warrant separate disclosure. Future periodic reports may provide detail on rent savings and any relocation or replacement facility arrangements.

Item 1.02 Termination of a Material Definitive Agreement Business
A significant contract was terminated, which may affect business operations or revenue.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Lease termination payment $10.0 million Lease modification amount owed to landlord
Security deposit retained approximately $0.5 million Security deposit to be drawn and retained by landlord
Premises size 80,168 rentable square feet Laboratory and office space covered by the Lease
Original lease expiry October 31, 2034 Original scheduled end date of the Lease
New lease termination date May 31, 2026 Effective termination date under the Lease Termination Agreement
material definitive agreement regulatory
"Item 1.02. Termination of a material definitive agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
Agreement for Termination of Lease and Voluntary Surrender of Premises financial
"entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
off-balance sheet arrangement financial
"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"
Understanding 8-K Material Events →
0001782303false00017823032026-04-132026-04-13

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 13, 2026

 

 

Boundless Bio, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware

001-41989

83-0751369

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

10955 Alexandria Way, Suite 100,

 

San Diego, California

 

92121

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (858) 766-9912

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, par value $0.0001 per share

 

BOLD

 

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 1.02. Termination of a material definitive agreement.

On April 13, 2026, Boundless Bio, Inc. (the "Company") entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises (the "Lease Termination Agreement") with ARE-10933 North Torrey Pines, LLC ("Landlord"), pursuant to which the Company and Landlord agreed to terminate that certain Lease Agreement dated as of December 20, 2021, as amended by that certain First Amendment to Lease dated as of November 1, 2024 (as amended, the "Lease"), related to the Company’s laboratory and office space consisting of approximately 80,168 rentable square feet (the "Premises") in that certain building located at 10955 Alexandria Way (previously known as Building 5 at One Alexandria Square), San Diego, California, as more particularly described in the Lease. Prior to the Lease Termination Agreement, the Lease was set to expire on October 31, 2034. Pursuant to the Lease Termination Agreement, the Lease will be terminated effective as of May 31, 2026. As consideration for the Lease Termination Agreement, (i) the Company agreed to pay Landlord a lease modification payment of $10.0 million, and (ii) Landlord will draw down and retain the full amount of the Company’s security deposit in the approximate amount of $0.5 million. The effectiveness of the Lease Termination Agreement was subject to satisfaction of a condition precedent relating to Landlord leasing the Premises to a new tenant, which condition precedent has been satisfied.

The foregoing summary of the Lease Termination Agreement does not purport to be complete and is qualified in its entirety by the full text of the Lease Termination Agreement, a copy of which the Company intends to file with its Quarterly Report on Form 10-Q for the quarter ending June 30, 2026.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure included in Item 1.02 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

SIGNATURES

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.

 

 

 

BOUNDLESS BIO, INC.

 

 

 

 

Date:

April 13, 2026

By:

/s/ Jessica Oien

 

 

 

Name: Jessica Oien
Title: Chief Legal Officer and Corporate Secretary

 

Source: View Original Filing on SEC EDGAR

FAQ

What lease did Boundless Bio (BOLD) terminate in this 8-K?

Boundless Bio terminated a lease for laboratory and office space at 10955 Alexandria Way, San Diego, covering about 80,168 rentable square feet that was originally scheduled to run through October 31, 2034.

When will Boundless Bio’s terminated lease officially end?

The lease will end effective May 31, 2026. This is earlier than the original October 31, 2034 expiration date, reflecting the new termination terms agreed with the landlord under the Lease Termination Agreement.

How much will Boundless Bio (BOLD) pay to terminate its lease?

Boundless Bio agreed to pay a lease modification amount of $10.0 million. In addition, the landlord will draw down and retain the company’s security deposit of approximately $0.5 million as part of the overall termination consideration.

Why is the Boundless Bio lease termination considered a direct financial obligation?

The company disclosed the lease termination under both termination of a material definitive agreement and creation of a direct financial obligation because it must pay $10.0 million and relinquish about $0.5 million of security deposit under the Lease Termination Agreement.

What condition had to be met before Boundless Bio’s lease termination became effective?

The Lease Termination Agreement’s effectiveness depended on the landlord leasing the premises to a new tenant. This condition precedent has been satisfied, allowing the early termination to proceed on the agreed terms.

Where can investors find the full Boundless Bio Lease Termination Agreement?

Boundless Bio plans to file the complete Lease Termination Agreement as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending June 30, 2026, providing full contractual details beyond the summarized terms.

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