NKGen Biotech enters $25.84M secured promissory note with AlpineBrook at 12% interest

NKGen Biotech, Inc.

Note principal $25,840,106; 12% interest; initial maturity 2 months, extendable at lender's sole discretion.
Note documents $25,540,106 in prior advances plus $300,000 new cash; no prepayment without lender consent.
Includes most-favored-nation clause; security interests in US personal/real property and NKGen Korea shares.
Change of control triggers 20% prepayment premium; restrictive covenants limit additional debt and liens.
Security interests subordinated to East West Bank and BDW Investments liens; Korean share pledge after July 2026 lock-up.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

NKGen Biotech, Inc. incurred loan of $25,840,106 with AlpineBrook Capital GP I Limited at 12% per annum maturing initially on the date falling two months after issuance, subject to extension at the Lender’s discretion.

Instrument: loan
Principal: $25,840,106
Counterparty: AlpineBrook Capital GP I Limited
Rate: 12% per annum
Maturity: initially on the date falling two months after issuance, subject to extension at the Lender’s discretion
Event: incurrence

Exact text from the filing

On January 5, 2026, NKGen Biotech, Inc., a Delaware corporation (the “ Company ”), and NKGen Operating Biotech, Inc., a Delaware corporation (the “ Company Sub ,” and together with the Company, the “ Borrowers ”), entered into a secured promissory note (the “ Note ”) with AlpineBrook Capital GP I Limited (the “ Lender ”), in the original principal amount of $25,840,106, bearing interest at 12% per annum and maturing initially on the date falling two months after issuance, subject to extension at the Lender’s discretion.

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

NKGen Biotech, Inc. entered into Note with AlpineBrook Capital GP I Limited valued at original principal amount of $25,840,106 (effective 2026-01-05).

Action: entry
Counterparty: AlpineBrook Capital GP I Limited
Value: original principal amount of $25,840,106
Effective: 2026-01-05

Exact text from the filing

On January 5, 2026, NKGen Biotech, Inc., a Delaware corporation (the “ Company ”), and NKGen Operating Biotech, Inc., a Delaware corporation (the “ Company Sub ,” and together with the Company, the “ Borrowers ”), entered into a secured promissory note (the “ Note ”) with AlpineBrook Capital GP I Limited (the “ Lender ”), in the original principal amount of $25,840,106, bearing interest at 12% per annum

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Source: SEC EDGAR

accession 0001213900-26-003030

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