8-K
filed April 11, 2024, 7:59 PM ET
CIK 0001845459
debt
confidence high
sentiment neutral
materiality 0.65
NKGen Biotech secures $5M convertible loan; issues warrant and conversion shares at $2.00
NKGen Biotech, Inc.
- Closed two tranches totaling $5M: $1M on April 8 and $4M on April 9, 2024.
- Convertible note with conversion price $2.00/share; warrant for up to 1,000,000 shares at $2.00.
- Interest rate tied to EWB credit or SOFR+2.85%, floor 7.5%; matures Oct 4, 2026.
- Proceeds to fund Alzheimer's Phase 2 and Parkinson's Phase 1/2a trials; reduced monthly burn by ~50%.
- Company to seek shareholder approval for share issuance under Nasdaq rules.
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 Loan Agreement with BDW Investments LLC valued at $5 million (effective 2024-04-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- BDW Investments LLC
- Value
- $5 million
- Effective
- 2024-04-05
Exact text from the filing
On April 5, 2024, NKGen Biotech, Inc. (the " Company ") entered into an equity and business loan agreement (the " Loan Agreement "), by and among the Company, NKGen Operating Biotech, Inc. (the " Borrower ") and BDW Investments LLC (the " Lender ").
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NKGen Biotech, Inc. entered into Registration Rights Agreement with BDW Investments LLC (effective 2024-04-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- BDW Investments LLC
- Effective
- 2024-04-05
Exact text from the filing
In connection with the Loan Agreement, Note and Warrant, the Company entered into a registration rights agreement (" Registration Rights Agreement "), dated April 5, 2024, with the Lender.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NKGen Biotech, Inc. amended Amendment with East West Bank (effective 2024-04-05).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- East West Bank
- Effective
- 2024-04-05
Exact text from the filing
On April 5, 2024, the Borrower entered into an amendment (the " Amendment ") to the EWB Credit Agreement to (i) eliminate the requirement of Borrower to maintain a minimum cash balance of $15 million with East West Bank, (ii) extend the maturity date to September 18, 2024, and (iii) require the Borrower to maintain its depository account(s) at East West Bank.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NKGen Biotech, Inc. entered into Warrant with BDW Investments LLC (effective 2024-04-05).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- BDW Investments LLC
- Effective
- 2024-04-05
Exact text from the filing
Pursuant to the Loan Agreement, the Company also issued a Common Stock Purchase Warrant (the " Warrant ") to the Lender to purchase up to 1,000,000 shares of Common Stock (the " Warrant Shares ") at an exercise price of $2.00 per share (subject to adjustments and limitations as described in the Warrant) for a period of five years from the issue date.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NKGen Biotech, Inc. entered into Note with BDW Investments LLC valued at $5 million (effective 2024-04-05).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- BDW Investments LLC
- Value
- $5 million
- Effective
- 2024-04-05
Exact text from the filing
On April 5, 2024, pursuant to the Loan Agreement and evidencing the Term Loans as described above, the Company issued to Lender a secured convertible promissory note (the " Note ") in the principal amount of up to $5 million and bearing interest at the Applicable Rate.
View on SEC.gov
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