NKGen Biotech, Inc.: debt financing — NKGen amends East West Bank loan: maturity to Jan 2027, rate 10%, $3.99M principal

NKGen Biotech, Inc.

Maturity extended from Apr 15, 2025 to Jan 15, 2027; interest rate fixed at 10% per annum (from variable).
Principal amount reduced to $3,991,127.50; payments: $1M due Jun 1, 2025; $1M Jul 15; $500K Oct 15; then $500K quarterly.
$250,000 reserve account required for interest payments; default rate increases by 5 percentage points (max legal rate).
Lender agrees to release deed of trust on real property collateral upon full repayment or pledge of cash collateral.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NKGen Biotech, Inc. amended convertible notes of $3,991,127.50 with East West Bank at fixed rate of 10% per annum maturing January 15, 2027.

Instrument: convertible notes
Principal: $3,991,127.50
Counterparty: East West Bank
Rate: fixed rate of 10% per annum
Maturity: January 15, 2027
Event: amendment

Exact text from the filing

of up to $5 million. As of April 14, 2025, the principal amount of the Note was Three Million Nine Hundred Ninety-one Thousand One Hundred Twenty-seven and 50/100 Dollars ($3,991,127.50). On April 21, 2025, the Borrowers entered into an amendment to the Loan Agreement (the “ Loan Agreement Amendment ”), retroactively effective as of April 14, 2025, to (i) extend

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Source: SEC EDGAR

accession 0001213900-25-034184

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