NKGen Biotech amends forward purchase agreement, sets floor price at $1.2743 and allows 248,360 additional shares

NKGen Biotech, Inc.

Second amendment to OTC equity prepaid forward transaction with Sandia Investment Management LP dated April 18, 2024.
Reset price floor set at $1.2743; weekly adjustment formula revised to 90% of prior week VWAP but not below floor.
Seller may deliver notice for up to 248,360 additional shares under the confirmation, subject to applicable share limit.
NKGen acknowledges non-public information possession; Seller waives claims related to material non-public information.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

NKGen Biotech, Inc. amended Second Amendment to Forward Purchase Agreement with Sandia Investment Management LP valued at Established floor on Reset Price (effective 2024-04-18).

Action: amendment
Agreement: equity purchase
Counterparty: Sandia Investment Management LP
Value: Established floor on Reset Price
Effective: 2024-04-18

Exact text from the filing

On April 18, 2024, NKGen Biotech, Inc. (the “Company” and formerly known as Graf Acquisition Corp. IV (“Graf”)) and Seller (defined below) entered into a second amendment (the “Amendment”) to the forward purchase agreement, dated as of September 26, 2023 (the “FPA”) initially among the Company, Graf, and Sandia Investment Management LP (“Sandia”) on behalf of the investors thereto (collectively, “Sellers”) for OTC Equity Prepaid Forward Transactions, as amended on January 19, 2024. Pursuant to the Amendment, the Company and Sellers agreed to establish a floor on the Reset Price (as defined in the Amendment).

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Source: SEC EDGAR

accession 0001213900-24-035893

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