UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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 1.01 Entry into a Material Definitive Agreement.
On December 20, 2022, Marchex, Inc., a Delaware corporation (the “Company” and “Marchex”) entered into a Sublease Agreement with Nelson Worldwide, LLC, a Pennsylvania limited liability company (the “Sublease”) with respect to the Company’s rental of office space located at 1200 5th Avenue, Suite 1300, Seattle, Washington.
The term of the Sublease is April 1, 2023 through September 30, 2027 (the “Term”) and is for 12,300 square feet.
Under the Sublease, the Company is obligated to pay fixed monthly rent over the Term totaling approximately $1,767,000 with an initial rate of $28 per square foot increasing annually to $34 per square foot.
The description of the Sublease set forth herein does not purport to be complete and is qualified in its entirety by reference to the full text thereof, a copy of which will be filed as an exhibit to the Company’s next applicable periodic report or registration statement.
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 under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Marchex has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
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MARCHEX, INC. |
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Date: December 22, 2022 |
By: |
/s/ MICHAEL A. ARENDS |
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Name: |
Michael A. Arends |
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Title: |
Co-CEO (Principal Executive Officer for SEC reporting purposes) |