NKGen Biotech (NKGN) has provided an update.
NKGen Biotech, Inc. has secured a flexible financing deal through an equity and business loan agreement for up to $5 million, involving two tranches with interest rates tied to an existing credit line or a minimum of 7.50%. The company’s assets, along with those of NKGen Operating Biotech, Inc., are collateral, with a maturity date set for October 4, 2026. Additionally, NKGen Biotech will issue shares and warrants to the lender, with the potential for conversion into common stock, all under a registration rights agreement ensuring the lender’s ability to resell. This strategic financial move is tailored to fuel the company’s growth while complying with Nasdaq regulations.
See more data about NKGN stock on TipRanks’ Stock Analysis page.
