On January 10, 2020, our wholly-owned subsidiary, Lex-Gen Woodlands, L.P. ("Lex-Gen Woodlands"), reported that it has entered into a Real Estate Purchase and Sale Agreement (the "Agreement") with FFC Equity Holdings, L.P. ("Purchaser") (Filing, 8-K, Lexicon Pharmaceuticals, JAN 10, 2020, View Source [SID1234553284]).

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Under the Agreement, we agreed to sell our facilities in The Woodlands, Texas (the "Property") to Purchaser for a purchase price of $15.0 million. Such sale is subject to normal and customary closing conditions, including a study period, which extends until April 9, 2020, during which Purchaser may conduct inspections, analyses and other studies of the Property and may terminate the Agreement in its discretion. Such sale is also subject to the negotiation and execution by the parties of a leaseback agreement for a period of six months with respect to a portion of the Property concurrently with closing.