NKGen Biotech issues $550K in convertible promissory notes and warrants

NKGen Biotech, Inc.

Issued 12% promissory notes totaling $550K principal ($500K net) to AJB Capital and Sandia Investment Management.
Notes mature April 1, 2025, convertible into common stock at $2.00 per share.
Also issued warrants to purchase up to 550,000 shares at $2.00 per share for five years.
Proceeds provide working capital; notes include original issue discount and default interest provisions.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NKGen Biotech, Inc. entered into AJB Purchase Agreement with AJB Capital Investments LLC (effective 2024-04-01).

Action: entry
Agreement: equity purchase
Counterparty: AJB Capital Investments LLC
Effective: 2024-04-01

Exact text from the filing

On April 1, 2024, NKGen Biotech, Inc. (the “ Company ”) issued a 12% promissory note (the “ AJB Note ”) in the principal amount of $330,000, pursuant to a Securities Purchase Agreement (the “ AJB Purchase Agreement ”), by and between the Company and AJB Capital Investments LLC (“ AJB ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NKGen Biotech, Inc. entered into Sandia Purchase Agreement with Sandia Investment Management LP on behalf of Diametric True Alpha Market Neutral Master Fund LP and Diametric True Alpha Enhanced Market Neutral Master Fund (effective 2024-04-01).

Action: entry
Agreement: equity purchase
Counterparty: Sandia Investment Management LP on behalf of Diametric True Alpha Market Neutral Master Fund LP and Diametric True Alpha Enhanced Market Neutral Master Fund
Effective: 2024-04-01

Exact text from the filing

On April 1, 2024, the Company issued a 12% promissory note (the “ Sandia Note ”) in the principal amount of $220,000, pursuant to a Securities Purchase Agreement (the “ Sandia Purchase Agreement ”), by and between Sandia Investment Management LP on behalf of Diametric True Alpha Market Neutral Master Fund LP and Diametric True Alpha Enhanced Market Neutral Master Fund (collectively, “ Sandia ”) and the Company.

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Source: SEC EDGAR

accession 0001104659-24-044244

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