---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-085858"
form_type: "8-K"
ticker: null
cik: "0001845459"
company_name: "NKGen Biotech, Inc."
filed_at: "2025-09-09T23:59:59+00:00"
generated_at: "2026-05-17T07:21:34.760373+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NKGen completes acquisition of 65% stake in NKMax for ~$17M, gaining full control of manufacturing and IP

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-25-085858
- form_type: 8-K
- cik: 0001845459
- company_name: NKGen Biotech, Inc.
- filed_at: 2025-09-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1845459/000121390025085858/0001213900-25-085858-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1845459/000121390025085858/ea0256553-8k_nkgen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-085858
- JSON: https://secwatch.observer/filing/0001213900-25-085858.json
- Plain text: https://secwatch.observer/filing/0001213900-25-085858.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845459/000121390025085858/0001213900-25-085858-index.htm

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