NKGen Biotech raises $1M gross from convertible notes; warrants at $2.00

NKGen Biotech, Inc.

Total gross proceeds of $1M from three convertible promissory notes to Meteora ($200k), Alpha ($500k), and AJB ($300k).
Aggregate principal amount $1.21M; notes mature in 12 months; convertible at $2.00 per share.
Warrants issued to purchase up to 1.1M shares at $2.00 per share for five years.
Alpha and AJB have options to require additional notes and warrants worth up to $2.96M and 2.64M shares.
Notes include original issue discounts; Meteora Note bears 12% interest; others zero coupon.

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 Meteora Purchase Agreement with Meteora Select Trading Opportunities Master, LP, Meteora Capital Partners, LP and Meteora Strategic Captial, LLC (collectively, "Meteora") valued at $220,000 (effective 2024-05-07).

Action: entry
Agreement: equity purchase
Counterparty: Meteora Select Trading Opportunities Master, LP, Meteora Capital Partners, LP and Meteora Strategic Captial, LLC (collectively, "Meteora")
Value: $220,000
Effective: 2024-05-07

Exact text from the filing

On May 7, 2024, the Company issued a 12% promissory note (the “ Meteora Note ”) in the principal amount of $220,000, pursuant to a Securities Purchase Agreement (the “ Meteora Purchase Agreement ”), by and among Meteora Select Trading Opportunities Master, LP, Meteora Capital Partners, LP and Meteora Strategic Captial, LLC (collectively, “ Meteora ”) and the Company.

View on SEC.gov

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 ("AJB") valued at $369,600 (effective 2024-05-09).

Action: entry
Agreement: equity purchase
Counterparty: AJB Capital Investments LLC ("AJB")
Value: $369,600
Effective: 2024-05-09

Exact text from the filing

On May 9, 2024, the Company entered into to a Securities Purchase Agreement (the “ AJB Purchase Agreement ”), by and between AJB Capital Investments LLC (“ AJB ”) and the Company.

View on SEC.gov

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

NKGen Biotech, Inc. entered into Alpha Purchase Agreement with Generating Apha Ltd. ("Alpha") valued at $616,000 (effective 2024-05-07).

Action: entry
Agreement: equity purchase
Counterparty: Generating Apha Ltd. ("Alpha")
Value: $616,000
Effective: 2024-05-07

Exact text from the filing

On May 7, 2024, the Company issued a zero coupon promissory note (the “ Alpha Note ”) in the principal amount of $616,000, pursuant to a Securities Purchase Agreement (the “ Alpha Purchase Agreement ”), by and between Generating Apha Ltd. (“ Alpha ”) and the Company.

View on SEC.gov

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Source: SEC EDGAR

accession 0001213900-24-041708

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