Pineapple Energy Announces Lease Termination For Former Minnesota Headquarters; Move Expected To Produce Total Savings Of ~$480,000
Portfolio Pulse from Benzinga Newsdesk
Pineapple Energy Inc. (NASDAQ:PEGY) has terminated the lease for its former headquarters in Minnetonka, Minnesota, resulting in expected savings of approximately $480,000. The lease was originally set to expire in 2027, and the termination will save the company $17,500 per month in rent. A one-time buyout fee will be paid over 14 months.
October 17, 2024 | 1:32 pm
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Pineapple Energy has terminated its lease for the former headquarters, leading to significant cost savings of approximately $480,000. This move is expected to positively impact the company's financials by reducing monthly expenses.
The termination of the lease will save Pineapple Energy $17,500 per month, which is a significant reduction in expenses. This cost-saving measure is likely to improve the company's financial health and could positively influence the stock price in the short term.
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