NKGen amends warrants to $2.00, defers repayment on $550K notes

NKGen Biotech, Inc.

Amended and restated 8.2M warrants: cashless conversion delayed, exercise price reset to $2.00/share.
Entered letter agreements with Meteora and Sandia on $550K notes to defer repayment right until Excess Proceeds exceed $10M.
Paid $116K cash, issued 416,667 shares, and 550,000 warrants at $2.00 to noteholders.
Warrants to noteholders have 5-year term.

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 Sandia Letter with Sandia Investment Management LP valued at agreed not to exercise Repayment Right until Excess Proceeds exceed $10 million in total; Company to (effective 2024-04-28).

Action: entry
Counterparty: Sandia Investment Management LP
Value: agreed not to exercise Repayment Right until Excess Proceeds exceed $10 million in total; Company to
Effective: 2024-04-28

Exact text from the filing

On April 28, 2024, the Company entered into letter agreements with each of Meteora (the " Meteora Letter ") and Sandia (the " Sandia Letter " and together with the Meteora Letter, the " Letters ") in connection with the Notes.

View on SEC.gov

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

NKGen Biotech, Inc. amended AR Subscribed Warrants with certain investors valued at exercise price reset to $2.00 per share (effective 2024-04-25).

Action: amendment
Agreement: equity purchase
Counterparty: certain investors
Value: exercise price reset to $2.00 per share
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, the Company amended and restated the Subscribed Warrants, (the " AR Subscribed Warrants "). Among other things, the AR Subscribed Warrants: (i) delay the Investor’s right to convert the Subscribed Warrants on a cashless basis and (ii) reset and cap the exercise price to $2.00 per share for all Subscribed Warrants.

View on SEC.gov

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

NKGen Biotech, Inc. entered into Meteora Letter with Meteora Select Trading Opportunities Master, LP, Meteora Capital Partners, LP and Meteora Strategic Capital, LLC valued at agreed not to exercise Repayment Right until Excess Proceeds exceed $10 million in total; Company to (effective 2024-04-28).

Action: entry
Counterparty: Meteora Select Trading Opportunities Master, LP, Meteora Capital Partners, LP and Meteora Strategic Capital, LLC
Value: agreed not to exercise Repayment Right until Excess Proceeds exceed $10 million in total; Company to
Effective: 2024-04-28

Exact text from the filing

On April 28, 2024, the Company entered into letter agreements with each of Meteora (the " Meteora Letter ") and Sandia (the " Sandia Letter " and together with the Meteora Letter, the " Letters ") in connection with the Notes.

View on SEC.gov

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Source: SEC EDGAR

accession 0001213900-24-037139

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