Note 12 - Subsequent Events

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Subsequent Events [Text Block]

12. Subsequent Events

In October 2021, a subsidiary of the Company, Asensus Surgical Italia S.r.L., entered into a lease agreement for new research, development, and demonstration space in Milan, Italy. The lease is expected to commence in the fourth quarter of 2021, has an initial lease term of 87 months following commencement, and includes a tenant option to extend the lease term for up to an additional six-year period. Quarterly base rent payments begin fifteen months after the commencement date and are subject to annual escalations beginning in the third year. Total base rent payments over the initial 87-month term shall be approximately $1.7 million. A proportionate share of building operating costs, ad valorem property taxes, value-added tax are also due quarterly.