UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 1.01 Entry into a Material Definitive Agreement
Effective as of April 1, 2025 ("Commencement Date"), Bird & Cronin, LLC, a wholly-owned subsidiary of Dynatronics Corporation (the "Company"), as tenant, entered into a lease ("Lease") with Ninety-Nine Technologies, LLC, as landlord, to occupy 56,687 square-feet of the manufacturing facility located at 1200 Trapp Road, Eagan, Minnesota (the "Facility"). The initial term of the Lease begins on the Commencement Date and continues for a period of thirty-nine calendar months, subject to an option to extend the term for one additional period of 36 calendar months in accordance with the terms thereof. Under the Lease, the Company is obligated to pay annual base rent for the first year of $481,840, increasing at 4% per annum over the term of the Lease, together with its proportionate share of certain operating expenses. The foregoing summary of the Lease is qualified in its entirety by the complete text of the Lease, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit | Description | |
| 10.1 | Lease Agreement dated effective as of April 1, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
| Date: April 4, 2025 | DYNATRONICS CORPORATION | ||
| By: | /s/Brian Baker | ||
| Name: | Brian Baker | ||
| Title: | President and Chief Executive Officer | ||