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An announcement from NKGen Biotech ( (NKGN) ) is now available.
On January 5, 2026, NKGen Biotech, Inc. and its subsidiary NKGen Operating Biotech, Inc. entered into a secured promissory note with AlpineBrook Capital GP I Limited for approximately $25.8 million, largely formalizing undocumented cash advances made since late 2024 to support NKGen’s majority acquisition of NKGen Biotech Korea Co., Ltd., with only $300,000 representing new capital. The note, bearing 12% interest and maturing initially two months after issuance, includes a most-favored-nation provision tied to future financings, stringent covenants limiting additional debt, liens and equity issuances, a negative pledge restricting grants of collateral or guarantees to third parties, and a right of first refusal over any sale of NKGen Korea shares, while also requiring efforts to secure guarantees and collateral from NKGen Korea, collectively tightening AlpineBrook’s security and influence over NKGen’s capital structure and key Korean assets and reinforcing the lender’s senior position relative to future stakeholders.
More about NKGen Biotech
NKGen Biotech, Inc. is a biotechnology company that, through its U.S. entities and a majority stake in NKGen Biotech Korea Co., Ltd. acquired via the Korean bankruptcy process, operates in the life sciences sector with a focus on developing and commercializing its technologies and assets across U.S. and Korean markets.
Average Trading Volume: 7,715
Technical Sentiment Signal: Sell
Current Market Cap: $7.46M
Learn more about NKGN stock on TipRanks’ Stock Analysis page.