I had a similar situation happen. I needed to negotiate an existing lease. In a hot real estate market negotiations can be very difficult and property owners are not always symathetic to a business' struggles.

It is a bad look for a public traded company. Also, just pointing out, they recently filed a SEC Form NT delaying the quarterly, with the old address on it. Not smart to knowingly file an official document with the SEC when you are under(supposedly) review/audit/investigation.

I have no problem with downsizing the HQ. But a public company needs a physical space if for no other reason than to help investors and partners have a sense the company is legit. You can rent inexpensively an executive office of one or two rooms in a condo space with access to a receptionist, office equipment etc. These condos have conference rooms as well. This actually came up with Gene Biotherapeutics very recently. Some basher talking shit about the company not being legit and sworking out of a PO Box. I wound up posting pics the CEO sent of a nice enough HQ space complete with awards the company had been given. Shut the guy up about the matter.