Form 8-K - Current report

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) July 19, 2024

Crexendo, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Nevada

001-32277

87-0591719

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

1615 S. 52nd Street, Tempe, AZ 85281

(Address of Principal Executive Offices) (Zip Code)

(602) 714-8500

(Registrant’s Telephone Number, Including Area Code)

Not applicable.

(Former Name or Former Address, if Changed Since Last Report)

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 (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

On July 19, 2024, (incorrectly dated July 17, 2024 in the document) Crexendo, Inc. (the “Company”) entered into a Commercial Sublease Agreement (“Sublease”) with Acronis, Inc., a Delaware corporation to sublease office space which will be the headquarters for the Company. This Sublease commences on October 1, 2024, and continues for thirty-six (36) months through October 31, 2027. The Base monthly rent is as follows: October 1, 2024 – September 30, 2025, $27,599.00; October 1, 2025 – September 30, 2026, $28,853.50 and October 1, 2026 – October 31, 2027 $30,108.00. The Company is entitled to three months of rent abatement. The location is fully furnished and ready for immediate occupancy.

In addition, the Company may be partially responsible for operating costs. If Operating Costs (as defined in Section 6.3 of the Master Lease) exceed $20,000.00 in a Calendar Year, then the Company shall be responsible for fifty (50%) percent of the amount exceeding $20,000.00. Historically costs have not exceeded $20,000.00 in any year.

The foregoing description of the Agreement is not complete and is qualified in its entirety by the text of the Agreement and the lease, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Agreements (including the master lease executed by Acronis) have been attached to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Company. The Agreement contains representations, warranties, and covenants the assertions embodied in those representations, were made for purposes of the contract among the respective parties and are subject to important qualifications and limitations agreed to by the parties in connection with negotiating such agreement. The representations and warranties in the Agreement should not be relied upon as characterizations of the actual state of facts about the Company.

Item 9.01 Financial Statements and Exhibits.

Exhibits.

10.1

Commercial Sublease Agreement between Acronis, Inc., a Delaware corporation and Crexendo, Inc, including all schedules and the master lease.

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.

Dated: July 24, 2024

	Crexendo, Inc.

		/s/ RONALD VINCENT
	By:	Ronald Vincent
		Chief Financial Officer

null

Cover	Jul. 19, 2024
Cover [Abstract]
Entity Registrant Name	Crexendo, Inc.
Entity Central Index Key	0001075736
Document Type	8-K
Amendment Flag	false
Entity Emerging Growth Company	false
Document Period End Date	Jul. 19, 2024
Entity File Number	001-32277
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	87-0591719
Entity Address Address Line 1	1615 S. 52nd Street
Entity Address City Or Town	Tempe
Entity Address State Or Province	AZ
Entity Address Postal Zip Code	85281
City Area Code	602
Local Phone Number	714-8500
Security 12b Title	Common Stock, par value $0.001 per share
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false