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Quantum-Si (QSI) signs 10-year San Diego lab and manufacturing lease

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

Rhea-AI Filing Summary

Quantum-Si, Incorporated entered a new long-term lease for approximately 54,374 square feet of planned office, laboratory and manufacturing space in San Diego, California. The 10-year term is expected to begin around September 1, 2027, with a latest possible start of November 1, 2027.

Initial monthly base rent is about $315,369.20, or $5.80 per square foot, increasing roughly 3% each year. Base rent is fully abated for the first 20 months after commencement. The landlord will provide up to $17,127,810 as a tenant improvement allowance, while Quantum-Si pays prepaid rent of $434,448.26 and posts a $2,085,786.64 letter-of-credit security deposit. The lease supports ongoing development of the Proteus™ platform and expanded manufacturing capabilities and replaces existing San Diego space expected to expire on December 31, 2027.

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Insights

Quantum-Si takes on a large, structured 10-year lease with generous build-out support.

Quantum-Si has committed to a 120-month lease for 54,374 square feet of office, lab and manufacturing space in San Diego. Initial base rent is $315,369.20 per month, or $5.80 per square foot, with about 3% annual increases.

Economic terms include 20 months of base-rent abatement after commencement and a landlord-funded tenant improvement allowance of up to $17,127,810. In return, the company provides prepaid rent of $434,448.26 and a letter-of-credit security deposit of $2,085,786.64, while the landlord posts a separate $19,475,890 letter of credit to back the allowance.

This structure aligns the new facility with Quantum-Si’s planned transition from its current San Diego lease expiring on December 31, 2027, and is intended to support Proteus™ platform development and expanded manufacturing. Actual cash outflows will depend on final commencement timing and operating costs under the lease.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
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.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Rentable area 54,374 square feet Planned office, lab and manufacturing space in San Diego
Initial monthly base rent $315,369.20 per month First 12 months after commencement
Base rent rate $5.80 per square foot Initial 12-month term
Annual rent increase 3% per year On each anniversary of the commencement date
Tenant improvement allowance $17,127,810 Up to $315 per square foot of rentable area
Prepaid rent $434,448.26 Paid on lease execution and credited to early base rent
Security deposit letter of credit $2,085,786.64 Initial amount required from Quantum-Si
Landlord LOC for allowance $19,475,890 Assures funds for tenant improvement allowance
Material Definitive Agreement regulatory
"Item 1.01 Entry into 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.
Tenant Allowance financial
"the Landlord will contribute up to $17,127,810.00 ($315.00/square foot of Rentable area) (the “Tenant Allowance”)"
Tenant Improvements financial
"toward the cost of tenant improvements (the “Tenant Improvements”), which the Company anticipates will cover the complete cost"
letter of credit financial
"A security deposit in the form of a letter of credit in an initial amount of $2,085,786.64 was also required"
A letter of credit is a bank’s written promise to pay a seller on behalf of a buyer once specified shipping or delivery documents are presented, acting like a guaranteed cashier’s check that only pays when the agreed conditions are met. Investors care because letters of credit reduce payment and counterparty risk, affect a company’s working capital and credit exposure, and can influence deal certainty in contracts, trade financing, and acquisitions.
Emerging growth company regulatory
"Emerging growth company o o Item 1.01 Entry into a Material Definitive Agreement."
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.
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Understanding 8-K Material Events →
0001816431FALSE00018164312026-06-182026-06-18

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): June 18, 2026
QUANTUM-SI INCORPORATED
(Exact name of registrant as specified in its charter)

Delaware
001-39486
85-1388175
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
29 Business Park Drive
Branford, Connecticut
06405
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (866) 688-7374
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:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-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 classTrading Symbol(s)
Name of each exchange on
which registered
Class A common stock, par value $0.0001 per shareQSIThe Nasdaq Stock Market LLC
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      o
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. o


Item 1.01     Entry into a Material Definitive Agreement.

On June 18, 2026 (the “Effective Date”), Quantum-Si, Incorporated, a Delaware corporation (the “Company”), entered into a lease agreement (the “Lease Agreement”) with Sterling City Science South Development, LLC, a Delaware limited liability company, (the “Landlord”), pursuant to which the Company will lease approximately 54,374 square feet (the “Rentable Area”) of planned office, laboratory and manufacturing space located at 9955 Pacific Heights Boulevard, San Diego, California, 92121 (the “Premise”).

The Company entered into this lease in connection with the planned transition from its existing leased space in San Diego, California, which is expected to expire on December 31, 2027. The Premise is expected to include office, laboratory and manufacturing space and will be used to support the Company’s operations, including planned development activities related to its Proteus™ platform and expanded manufacturing capabilities.

The Lease Agreement provides for a term of one hundred twenty (120) months from the commencement date, which is anticipated to be on or about September 1, 2027 (the “Commencement Date”), subject to the satisfaction of certain customary conditions and completion of planned tenant improvements, but in any event, will commence no later than November 1, 2027. The Company has the option to extend the term of the Lease Agreement for one additional period of five years, subject to the terms and conditions set forth therein.

The Lease Agreement provides for initial monthly base rent of approximately $315,369.20 ($5.80/square foot of Rentable Area) for the first 12-month term (the “Base Rent”), which will increase by approximately 3% per each subsequent 12-month period on the anniversary of the Commencement Date over the term of the lease. In addition, the Company is responsible for certain operating expenses, taxes, and other charges specified in the Lease Agreement. Payments of monthly Base Rent for the Premise will be abated for months one (1) through twenty (20) after the Commencement Date. In addition, the Landlord will contribute up to $17,127,810.00 ($315.00/square foot of Rentable area) (the “Tenant Allowance”) toward the cost of tenant improvements (the “Tenant Improvements”), which the Company anticipates will cover the complete cost of the anticipated Tenant Improvements.

Pursuant to the Lease Agreement, prepaid rent of $434,448.26 was payable by the Company upon execution of the Lease Agreement and will be applied to the first installment(s) of Base Rent due under the lease. A security deposit in the form of a letter of credit in an initial amount of $2,085,786.64 was also required as part of the Lease Agreement.

In addition, within thirty (30) days following the Effective Date of the Lease Agreement, the Landlord shall provide a letter of credit to the Company in an initial amount of $19,475,890.00 to provide assurance that Landlord will have adequate funds available for the Tenant Allowance and will promptly pay applications for payment during the course of construction (or reimburse the Company for the approved payments it makes) to complete the Tenant Improvements.

The foregoing description of the Lease Agreement does not purport to be complete and is subject to, and qualified in its entirety by, reference to the terms and conditions of the Lease Agreement, which is included as Exhibit 10.1 hereto.

Forward-looking Statements

Certain information discussed in this Current Report on Form 8-K is forward-looking information that involves risks, uncertainties and assumptions. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “condition,” “expect,” “if,” “intend,” “may,” “will,” “planned” and similar expressions. Forward-looking statements in this Current Report relate to the Lease Agreement. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual plans or results to differ from our assumptions or expectations. Our risks are more fully described in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information.
Item 2.03      Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 of this Current Report on Form 8-K. 


Item 9.01      Financial Statements and Exhibits.
(d)Exhibits.
Exhibit
No.
Description
10.1
Lease agreement dated June 18, 2026, between Sterling City Science South Development, LLC and Quantum-Si Incorporated.*
104Cover Page Interactive Data File (embedded within the Inline XBRL document)

*Certain exhibits or schedules to this exhibit have been omitted in accordance with Item 601(a)(5) of Regulation S-K. The registrant hereby agrees to furnish supplementally a copy of any omitted exhibit or schedule to the SEC upon its request.


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.
QUANTUM-SI INCORPORATED
By:
/s/ Jeffry Keyes
Name:Jeffry Keyes
Title:Chief Financial Officer
Date: June 24, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What new lease did Quantum-Si (QSI) enter into in San Diego?

Quantum-Si entered a 10-year lease for about 54,374 square feet of office, laboratory and manufacturing space at 9955 Pacific Heights Boulevard in San Diego. The space is intended to support operations, including Proteus™ platform development and expanded manufacturing capabilities, replacing its current San Diego facility.

When does Quantum-Si’s new San Diego lease start and how long is the term?

The lease term is 120 months and is anticipated to commence on or about September 1, 2027, but no later than November 1, 2027. Quantum-Si also has a single five-year renewal option, allowing potential occupancy beyond the initial 10-year period if exercised under the agreement’s terms.

How much rent will Quantum-Si pay under the new lease agreement?

Initial monthly base rent is approximately $315,369.20, equal to $5.80 per rentable square foot for the first 12-month period. Base rent increases by about 3% on each anniversary of the commencement date, and the company is also responsible for operating expenses, taxes and other specified charges.

What rent abatements does Quantum-Si receive in the San Diego lease?

Quantum-Si will have all monthly base rent payments for the premises abated for months one through twenty after the lease commencement date. This reduces early cash outflows as the company builds out and occupies the new space while still being responsible for other non-abated charges described in the lease.

What tenant improvement allowance is included in Quantum-Si’s lease?

The landlord will contribute up to $17,127,810, or $315 per square foot of rentable area, as a tenant improvement allowance. Quantum-Si expects this to cover the full cost of planned tenant improvements, supporting build-out of office, lab and manufacturing areas for its operational and development needs.

What security and prepaid amounts are required from Quantum-Si under the lease?

Quantum-Si paid prepaid rent of $434,448.26 upon execution of the lease, to be applied to initial base rent installments. It also must provide a letter-of-credit security deposit initially totaling $2,085,786.64. Separately, the landlord will deliver a $19,475,890 letter of credit backing the tenant improvement allowance.

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