Graf Acquisition IV in an 8-K said today that it entered into a warrant subscription agreement with certain investors who agreed to purchase 1,999,998 warrants at $1 each.
The subscribed warrants will be exercisable for cash during the five-year period beginning on the date of the merger closing with NKGen Biotech. A shareholder vote on the merger is scheduled for tomorrow after being postponed three times.
One-third of the subscribed warrants will be exercisable initially at $10, one-third will be exercisable initially at $12.50 and the remainder at $15, according to the 8-K. The exercise price of each tranche will be subject to adjustment every 180 days.
Based in Santa Ana, CA, NKGen Biotech was established in 2017 and is focused on natural killer cell therapies for the treatment of patients in areas such as neurodegenerative disease, such as Alzheimer's and Parkinson's, and oncology. Read more.