Pro-Dex Inc. (PDEX) Extends Irvine Lease Through Sept 2030

What Happened
Pro-Dex, Inc. (PDEX) filed an 8-K reporting that on September 16, 2026 it entered into a Third Amendment to its industrial/commercial lease with Irvine Business Properties, effective August 18, 2026. The amendment extends the lease term for the Company's executive offices and Irvine manufacturing facility at 2361 McGaw Avenue through September 30, 2030.

Key Details

• Lease covers approximately 28,180 square feet at 2361 McGaw Avenue, Irvine, CA (executive offices and manufacturing).
• Third Amendment effective August 18, 2026; agreement executed September 16, 2026; lease originally dated August 17, 2007 (with prior amendments in 2013 and 2017).
• Lease term extended to September 30, 2030. Beginning October 1, 2027, base rent will be $49,281.75 per month (Oct 1, 2027–Sept 30, 2028).
• Base rent increases of 3.5% annually thereafter: an increase of $1,724.86/month on Oct 1, 2028 and an additional $1,785.23/month on Oct 1, 2029.
• Except as amended, all other lease terms remain unchanged.

Why It Matters
This amendment locks in the Company’s occupancy of its Irvine headquarters and manufacturing facility through late 2030 and establishes scheduled, modest rent increases. For investors, it clarifies future occupancy obligations and predictable rent expense increases that will affect the company’s operating cash flow over the next several years.