---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-038427"
form_type: "8-K"
ticker: null
cik: "0001845459"
company_name: "NKGen Biotech, Inc."
filed_at: "2025-05-01T23:59:59+00:00"
generated_at: "2026-05-23T01:04:05.382332+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NKGen Biotech issues 2.6M shares to Kepos in warrant exercise and downside settlement

## Summary
- Kepos exercised 555,555 warrants on a cashless basis, receiving 555,555 shares of NKGen common stock.
- In lieu of $509,555 cash downside consideration, Kepos accepted 2,038,220 shares at $0.25/share; 2,593,775 total shares issued.
- Outstanding $382,222 downside cash from prior reset to be satisfied with 1,528,888 shares at $0.25/share (future issuance).
- Shares are unregistered, bear restrictive legends, and may only be transferred under Rule 144 or other registration exemption.

## SEC filing metadata
- accession: 0001213900-25-038427
- form_type: 8-K
- cik: 0001845459
- company_name: NKGen Biotech, Inc.
- filed_at: 2025-05-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1845459/000121390025038427/0001213900-25-038427-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1845459/000121390025038427/ea0239780-8k_nkgen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-038427
- JSON: https://secwatch.observer/filing/0001213900-25-038427.json
- Plain text: https://secwatch.observer/filing/0001213900-25-038427.txt

## Key facts
- Debt Financings
  NKGen Biotech, Inc. incurred debt with Kepos Alpha Master Fund L.P..
  - Counterparty: Kepos Alpha Master Fund L.P.
  - Event: incurrence
  source text: the Company issued to Kepos a total of 2,593,775 shares of common stock, consisting of the Warrant Shares and the Additional Shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000121390025038427/0001213900-25-038427-index.htm

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