Form 8-K - Current report
March 15 2024 - 4:02PM
Edgar (US Regulatory)
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2024-03-11
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 11, 2024
NKGen
Biotech, Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
|
001-40427 |
|
86-2191918 |
(State or other jurisdiction of
incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
3001 Daimler Street
Santa Ana, CA, 92705
(Address of principal executive offices and
zip code)
Registrant’s telephone number, including
area code: (949) 396-6830
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2 below):
¨ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section
12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each
exchange
on which registered |
Common
Stock, $0.0001 par value per share |
|
NKGN |
|
Nasdaq Global Market |
|
|
|
|
|
Warrants,
each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
NKGNW |
|
Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act
of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing
On March 11, 2024, NKGen Biotech, Inc. (the “Company”)
received written notice (the “Notice”) from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock
Market, LLC (“Nasdaq”) notifying the Company that for the last 30 consecutive business days prior to the date of the Notice,
the Company’s Market Value of Listed Securities (as defined under Nasdaq rules) was below the minimum of $50 million required for
continued listing on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Requirement”). In accordance
with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq has provided the Company with 180 calendar days, or until September 9, 2024, to regain
compliance with the MVLS Requirement. If, at any time before September 9, 2024, the market value of the Company’s common stock (calculated
in accordance with Nasdaq rules) closes at $50 million or more for a minimum of ten consecutive business days, Nasdaq will provide written
confirmation to the Company and close the matter.
The Notice does not result in the delisting of
the Company’s common stock from the Nasdaq Global Market. However, in the event the Company does not regain compliance with the
MVLS Requirement prior to September 9, 2024, the Company will receive written notification that its common stock will be subject to delisting.
At that time, the Company may appeal the Staff’s delisting determination to a Nasdaq Hearing Panel.
In recent weeks, the Company’s share price
has rebounded from its previous lows, and the Company’s market capitalization exceeded $50 million at close on March 11, 2024, following
receipt of the Notice. The Company is evaluating potential actions to regain compliance with the MVLS Requirement and intends to actively
monitor the market value of its common stock. There can be no assurance that the Company will regain compliance with the MVLS Requirement
by the compliance date, September 9, 2024. The Company may also, if appropriate, apply to transfer to the Nasdaq Capital Market, subject
to the requirements of such market.
SIGNATURES
Pursuant to the requirements of Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
NKGEN BIOTECH, INC. |
|
|
Date: March 15, 2024 |
/s/ Paul Y. Song |
|
Name: |
Paul Y. Song |
|
Title: |
Chief Executive Officer |
|
|
(Principal Executive Officer) |
v3.24.0.1
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|
Mar. 11, 2024 |
Document Information [Line Items] |
|
Document Type |
8-K
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Amendment Flag |
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Document Period End Date |
Mar. 11, 2024
|
Entity File Number |
001-40427
|
Entity Registrant Name |
NKGen
Biotech, Inc.
|
Entity Central Index Key |
0001845459
|
Entity Tax Identification Number |
86-2191918
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
3001 Daimler Street
|
Entity Address, City or Town |
Santa Ana
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
92705
|
City Area Code |
949
|
Local Phone Number |
396-6830
|
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Entity Emerging Growth Company |
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|
Common Stock [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Common
Stock, $0.0001 par value per share
|
Trading Symbol |
NKGN
|
Security Exchange Name |
NASDAQ
|
Warrant [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Warrants,
each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
|
Trading Symbol |
NKGNW
|
Security Exchange Name |
NASDAQ
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