11/07/2025 | Press release | Distributed by Public on 11/07/2025 15:03
| Item 1.01. | Entry into a Material Definitive Agreement. |
On November 6, 2025, Datavault AI Inc. (the "Company") entered into a lease agreement, with Commerce Square Partners - Philadelphia Plaza, L.P. ("Landlord") (the "Lease Agreement"), pursuant to which the Landlord will lease to the Company approximately 23,037 rentable square feet of space located on the 24th Floor, Suite 2400 (the "Premises") of 2005 Market Street, Philadelphia, Pennsylvania (the "Building" or "One Commerce Square"). The Lease Agreement has an initial term of 60 calendar months. The Lease Agreement provides for five rent periods of fixed rent, beginning with monthly rent of approximately $48,000, which increases by approximately 2.5% over each rent period.
In addition to monthly rent, the Company shall pay the Landlord for any utilities for the Premises, as well as for Operating Expenses (as defined in the Lease Agreement), including but not limited to costs for maintenance, operations, repairs, replacements, and taxes.
The foregoing description of the Lease Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.