GSI Technology Secures Cash, Signs Lease, Announces Board Change
Company Announcements

GSI Technology Secures Cash, Signs Lease, Announces Board Change

GSI Technology (GSIT) has issued an announcement.

GSI Technology, Inc. has successfully completed a sale-leaseback deal for its Sunnyvale Property, securing $11.65 million in cash. Alongside the sale, the company has engaged in a ten-year lease agreement for the same property, with the option to extend for two additional five-year terms. The lease starts with a base rent of approximately $90,768 per month, subject to a 3% annual increase. This strategic financial move comes alongside the announcement that board member Barbara Nelson will not seek reelection at the upcoming Annual Meeting of Stockholders, a choice made without any underlying disagreements with the company.

For an in-depth examination of GSIT stock, go to TipRanks’ Stock Analysis page.

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