---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-046099"
form_type: "8-K"
ticker: null
cik: "0001845459"
company_name: "NKGen Biotech, Inc."
filed_at: "2024-04-11T23:59:59+00:00"
generated_at: "2026-06-04T00:09:34.952301+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NKGen Biotech secures $5M convertible loan; issues warrant and conversion shares at $2.00

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-046099
- form_type: 8-K
- cik: 0001845459
- company_name: NKGen Biotech, Inc.
- filed_at: 2024-04-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/0001104659-24-046099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/tm2411469d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-046099
- JSON: https://secwatch.observer/filing/0001104659-24-046099.json
- Plain text: https://secwatch.observer/filing/0001104659-24-046099.txt

## Key facts
- Material Agreements
  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
  source text: 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 ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/0001104659-24-046099-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/0001104659-24-046099-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/0001104659-24-046099-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/0001104659-24-046099-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000110465924046099/0001104659-24-046099-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.