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NKGen Biotech, Inc. Enters into Secured Promissory Note
NKGN
Debt Issuance
- NKGen Biotech, Inc. and NKGen Operating Biotech, Inc. (the "Borrowers") entered into a secured promissory note with AlpineBrook Capital GP I Limited (the "Lender") on January 5, 2026, for a principal amount of US$25,840,106.
- The note bears interest at 12% per annum and has an initial maturity date two months after issuance, which the Lender can extend at its discretion.
- The principal amount includes US$25,540,106 of existing debt, primarily for the acquisition of a majority stake in NKGen Biotech Korea Co., Ltd., and an additional new loan of US$300,000.
- The Borrowers granted the Lender security interests in substantially all U.S. personal property, U.S. real property, and Korean collateral, including shares of NKGen Korea, subject to existing liens from East West Bank and BDW Investments LLC.
- The note includes a "most favored nation" provision for future financings and requires a 20% cash premium on the outstanding principal if a change of control occurs.
Jan 9, 2026, 5:25 PM
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