NKGen Biotech, Inc.: M&A transaction — NKGen completes acquisition of 65% stake in NKMax for ~$17M, gaining full control of manufacturing and IP

NKGen Biotech, Inc.

Acquired 46.4M shares at ~$0.36/share, representing 65% interest in NKMax out of bankruptcy.
Funding of ~$17M: majority from AlpineBrook Capital GP I Limited, remainder from CEO Paul Y. Song; terms pending.
Transaction grants NKGen full control of NKMax's global manufacturing infrastructure, IP, and exclusive commercialization rights.
NKGen expects to accelerate clinical development of troculeucel (Alzheimer's therapy) and expand NK cell therapy pipeline.
NKGen stock trades on OTC Expert Market; removal of parent overhang may renew investor interest.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NKGen Biotech, Inc. completed an acquisition involving NKMax Co., Ltd. for approximately $0.36 per share (closed 2025-09-04).

Action: acquisition
Counterparty: NKMax Co., Ltd.
Consideration: approximately $0.36 per share
Closing: 2025-09-04

Exact text from the filing

in the Current Reports on Form 8-K filed on June 20, 2025 and December 2, 2024. The Company purchased 46,400,000 common shares of NKMax at a price per share of approximately $0.36. This transaction grants the Company full control over NKMax’s global manufacturing infrastructure, intellectual property (“IP”), and exclusive commercialization rights. The

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Source: SEC EDGAR

accession 0001213900-25-085858

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