NVCR - Novocure to acquire and construct building in Downtown Portsmouth New Hampshire

Novocure (NASDAQ:NVCR) signed a purchase and sale agreement to acquire and construct an office building at 64 Vaughan Mall, in the heart of downtown Portsmouth, New Hampshire. The purchase price of the property is $9.5M. On agreement closure, Novocure will enter into a construction agreement with an affiliate of the seller on a cost of work plus fee with guaranteed maximum price basis, with maximum price of $14.5M. The property will provide space for Novocure's growing employee base, house a world-class training and development center. Novocure established its U.S. operations in Portsmouth in 2006, and has grown from one employee in Portsmouth to 300+ employees today. Transaction is expected to occur on or before Dec.31.

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Novocure to acquire and construct building in Downtown Portsmouth, New Hampshire