NKGen Biotech, Inc. announced that it has entered into Securities Purchase Agreement with returning investor Meteora Select Trading Opportunities Master, LP, Meteora Capital Partners, LP and Meteora Strategic Captial, LLC to issue convertible promissory note for the gross proceeds of $200,000 on May 1, 2024. The note bears 12% and matures on May 7, 2025. The principal amount is $220,000.

Pursuant to the Meteora Purchase Agreement, the Company also issued Meteora a Common Stock Purchase Warrant (to purchase up to 220,000 shares of Common Stock at an exercise price of $2.00 per share for a period of five years from the issue date. The note is converted at a conversion price of $2 per share.