Langer Inc - Current report filing (8-K)
May 07 2008 - 4:10PM
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):
May
2,
2008
Langer,
Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
(State
or other jurisdiction of incorporation)
|
1-12991
(Commission
File Number)
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11-2239561
(IRS
Employer Identification Number)
|
|
450
Commack Road, Deer Park, New York
(Address
of principal executive offices)
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11729-4510
(Zip
Code)
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Registrant’s
telephone number, including area code:
631-667-1200
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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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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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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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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On
May 2,
2008, the Company entered into a sublease of office space located at 245 Fifth
Avenue, New York, New York. The space consists of approximately 4,900 square
feet and will be used for general offices. The term of the sublease is for
13
months and 11 days, commencing May 20, 2008, at an annual base rental rate
of
approximately $166,700. The new lease will replace the Company’s office at 41
Madison Avenue, New York, New York, which the Company determined to surrender
to
reduce its general and administrative expenses. See Item 1.02
below.
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Item
1.02
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Termination
of Material Definitive
Agreement.
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As
part
of the Company's efforts to reduce its general and administrative expenses,
the
Company agreed to surrender to the to the landlord the lease of its offices
at
41 Madison Avenue, 28
th
Floor,
New York, New York 10010, on which the current annual base rent was
approximately $443,300, exclusive of rental income from a subtenant of the
Company. The surrender of the lease shall become effective in May 2008. In
connection with the surrender of the lease, the landlord has forgiven the
Company's remaining balance on its liability for build-out improvements to
the
premises, in the amount of $139,281.
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Item
9.01
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Financial
Statements and Exhibits.
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|
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10.1
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Form
of Sublease between the Company as undertenant and Smile Train, Inc.,
as
overtenant with respect to premises at 245 Fifth Avenue, New York,
N.Y.
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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, hereunto
duly authorized.
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Langer,
Inc.
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Date: May
7,
2008
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By:
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/s/
Kathleen
P. Bloch
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Kathleen
P. Bloch, Vice President and Chief Financial
Officer
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Exhibit
Index
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10.1
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Form
of Sublease between the Company as undertenant and Smile Train, Inc.,
as
overtenant with respect to premises at 245 Fifth Avenue, New York,
N.Y.
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