NKGen Biotech, Inc. 8-K

What Happened
NKGen Biotech, Inc. filed an 8‑K (dated July 17, 2026) reporting a First Amendment (dated July 13, 2026) to the equity and business loan agreement among NKGen, NKGen Operating Biotech, Inc. (the Borrower) and BDW Investments, LLC (the Lender). The Original Loan Agreement (April 5, 2024) provided for a multi‑draw term loan up to $5.0 million. The Amendment removes an all‑assets security agreement and instead gives the Lender a first‑priority perfected security interest in specified real estate collateral secured by a BDW Deed of Trust (originally dated April 5, 2024 and amended April 30, 2026). The Amendment also includes a mutual release of claims by the Company and the Borrower in favor of the Lender for matters through the Amendment date.

Key Details

• Original loan: multi‑draw term financing up to $5.0 million (Original Loan Agreement dated April 5, 2024).
• Amendment date: July 13, 2026; 8‑K filed July 17, 2026.
• Security change: all‑assets security agreement terminated; Lender now holds first‑priority perfected lien on specified real estate collateral (BDW Deed of Trust dated April 5, 2024, amended April 30, 2026).
• Other changes: tightened “Permitted Liens” to restrict senior liens on the real estate collateral; “Senior Loan” defined to refer to a Senior Convertible Loan Agreement dated April 15, 2026 with AlpineBrook Capital GP I Limited.
• Release: the Company and Borrower released BDW and related parties from all claims through the Amendment date relating to the Original Loan Agreement.

Why It Matters
This Amendment changes which assets secure BDW’s loan — shifting from a broad all‑assets lien to a first‑priority lien on specific real estate. That alters creditor priority and which company assets are encumbered, which can affect the Company’s flexibility to use or pledge other assets in future financings. The release of claims reduces the parties’ ability to dispute prior actions under the Original Loan Agreement. Retail investors should note the secured position of BDW and monitor future filings for any impacts on liquidity, additional borrowings, or potential enforcement actions related to the real estate collateral. For full legal details, investors can review the Amendment filed as an exhibit to the 8‑K.