UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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)
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November
22, 2006 |
(Exact
Name of Registrant as Specified in Its Charter)
(State
or
Other Jurisdiction of
Incorporation)
| |
1-9341
|
|
02-0377419
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|
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(Commission
File Number)
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|
(IRS
Employer Identification
No.)
|
|
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4
Townsend West, Suite 17, Nashua, New
Hampshire
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03063
|
|
(Address
of Principal Executive
Offices)
|
(Zip
Code)
|
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(603)
882-5200
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|
(Registrant’s
Telephone Number, Including Area Code)
|
| |
|
|
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(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 (see
General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement.
On
November 22, 2006 iCAD, Inc (the “Company”) signed a lease (the “Lease”)
with Gregory D. Stoyle and John J. Flatley, Trustees of the 1993 Flatley Family
Trust (the “Landlord”) for the lease of approximately 11,000 square feet of
office space located at the Nashua Office Park, 98 Spit Brook Road in Nashua,
New Hampshire (the “Premises”). The Lease provides for a five (5) year term
commencing on the earlier to occur of (i) the day following the date the
Landlord substantially completes certain work on the Premises or (ii) the day
the Company first occupies the Premises, which is expected to occur on or about
December 15, 2006. The Lease also provides for annual base rent of $176,256
for
the first year (with a one month rent allowance of $14,688 to be applied against
the first month’s base rent payment); $187,272 for the second year; $198,288 for
the third year; $209,304 for the fourth year and $220,320 for the fifth year
.
Additionally, the Company is required to pay its proportionate share of the
building and real estate tax expenses and obtain insurance for the Premises.
The
Lease provides for the Company to pay the base rent and proportionate building
and real estate tax expenses in equal monthly installments.The Company
also has the right to extend the term of the Lease for an additional three
year
period at the then current market rent rate (which
shall not be less than the last annual rent paid by the Company).
The
Company’s executive offices will be located at the Premises.
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 thereunto
duly authorized.
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iCAD,
INC. |
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(Registrant)
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|
|
|
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By: |
/s/ Darlene
Deptula-Hicks |
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Darlene
Deptula-Hicks |
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Executive
Vice President of Finance and Chief Financial
Officer
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