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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): September 17, 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 ☒

 

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 8.01 Other Events.

 

As previously disclosed, on September 10, 2024, NKGen Biotech, Inc. (the “Company”) received a notification letter (the “Delisting Notice”) from the Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that, as a result of the Company’s failure to regain compliance with Nasdaq Listing Rule 5450(b)(2)(A) (the “Global Market Requirement”), requiring the Company to maintain a market value of listed securities of at least $50 million, within the cure period, Nasdaq has determined to delist the Company’s common stock from the Nasdaq Global Market. In addition, the Delisting Notice stated that the Company’s failure to comply with its obligation to file periodic financial reports set forth in Nasdaq Listing Rule 5250(c)(1).

 

On September 17, 2024, the Company intends to submit a request for a hearing and stay of suspension (the “Appeal”) appealing Nasdaq’s determination by 4:00pm Eastern Time. Such Appeal will set forth the Company’s plan to regain compliance, including, among other things, that the Company intends to file an application to transfer from the Nasdaq Global Market to the Nasdaq Capital Market concurrently with the filing of the Appeal. If successful, under the continued listing requirements of the Nasdaq Capital Market, the Company will need to maintain a market value of listed securities of at least $35 million pursuant to Nasdaq Listing Rule 5550(b)(2) rather than $50 million under the Global Market Requirement. Further, on September 12, 2024, the Company filed its Quarterly Report on Form 10-Q for the period ended June 30, 2024, with the U.S. Securities and Exchange Commission, thereby regaining compliance with Nasdaq Listing Rule 5250(c)(1).

 

1

 

 

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: September 17, 2024 /s/ Paul Y. Song
  Name:  Paul Y. Song
  Title: Chief Executive Officer
    (Principal Executive Officer)

 

 

2

 

 

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Cover
Sep. 17, 2024
Document Type 8-K
Amendment Flag false
Document Period End Date Sep. 17, 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
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Common Stock, $0.0001 par value per share  
Title of 12(b) Security Common Stock, $0.0001 par value per share
Trading Symbol NKGN
Security Exchange Name NASDAQ
Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share  
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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