Boundless Bio to End Major Lab Lease, Pay $10M

Boundless Bio, Inc. has agreed to terminate its long-term laboratory and office lease in San Diego.

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.

Insights

Real estate and capital structure analyst

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.

8-K Event Classification

2 items: 1.02, 2.03

2 items

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.

Key Figures

Lease termination payment: $10.0 million Security deposit retained: approximately $0.5 million Premises size: 80,168 rentable square feet +2 more

5 metrics

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

Key Terms

material definitive agreement, Agreement for Termination of Lease and Voluntary Surrender of Premises, Emerging growth company, off-balance sheet arrangement

4 terms

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"

An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 04/13/2026 - 05:15 PM EDT Learn about SEC filing dates

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

Filing Exhibits & Attachments

1 document

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 25.4 KB