Current Report Filing (8-k)
August 09 2016 - 8:10AM
Edgar (US Regulatory)
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): August 5, 2016
Capella Education Company
(Exact name of Registrant as specified in its charter)
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Minnesota
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001-33140
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41-1717955
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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225 South 6
th
Street, 9
th
Floor
Minneapolis, Minnesota
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55402
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code:
(888) 227-3552
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:
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to
Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d 2(b) under the Exchange Act (17 CFR 240.14d 2(b))
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¨
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Pre-commencement communications pursuant to
Rule 13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Item 1.01.
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Entry into a Material Definitive Agreement.
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Effective August 5, 2016, Capella Education Company
entered into an amendment of our current lease with Minneapolis 225 Holdings, LLC pursuant to which we are renewing and extending our existing lease for the premises located at 225 South Sixth Street and 650 Third Avenue South in Minneapolis,
Minnesota.
Our current lease for 225 South Sixth Street expires October 31, 2018 and covers 371,225 square feet. The terms of the lease amendment
include:
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An extension of the lease term through October 31, 2028;
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Relinquishment of rights with respect to premises on the 10
th
and 15
th
floors of the building to be effective on
October 31, 2017, such that the leased premises will be 307,094 square feet after this date;
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Base rents (exclusive of charges for operating costs and taxes) for rentable square feet of the premises from November 1, 2018 through October 31, 2028 ranging from $14.20 to $16.96 per square foot;
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Landlord-funded tenant improvement allowance of approximately $11,258,000 for the current premises;
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Tenant options to extend the lease for two successive periods of five years each;
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Tenant option to further reduce the premises by approximately 29,394 square feet on the 4
th
floor effective on November 1, 2023;
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Tenant rights to elect to lease additional space in the building, including space contiguous to existing leased premises as and if such space becomes available; and
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Tenant option to terminate the lease effective on October 31, 2025.
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Item 9.01.
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Financial Statements and Exhibits.
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10.1
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Seventh Amendment to Lease dated as of the 5
th
day of August 2016, by and between Minneapolis 225 Holdings, LLC and Capella Education Company
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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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CAPELLA EDUCATION COMPANY
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Date: August 9, 2016
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By
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/s/ Renee L. Jackson
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Renee L. Jackson
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Vice President and General Counsel
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