secwatch.observer — SEC 8-K summary
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Issuer:     NKGen Biotech, Inc. (—)
CIK:        0001845459
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001104659-24-039747
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NKGen Biotech issues $660k in convertible notes and warrants to two investors
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- Sold $330k principal 12% notes at $300k each (OID $30k) to FirstFire and Meteora, due March 2025.
- Each note convertible at $2.00/share; warrants for up to 330k shares each at $2.00.
- Total gross proceeds $600k; first 12 months interest ($39,600) guaranteed and earned upfront.
- Conversion capped at 4.99% beneficial ownership; Event of Default triggers floor price as low as $0.65.
- Notes are unsecured, may convert at Holder's option anytime until maturity; 330 shares reserved per note.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1845459/000110465924039747/0001104659-24-039747-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1845459/000110465924039747/tm249972d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-039747

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer