Medical stage pure killer cell remedy firm, NKGen Biotech enters merger with Graf Acquisition (NYSE:GFOR).
NKGen is predicted to have a professional forma enterprise worth of not less than $160M, based mostly on $145M in pre-money fairness worth plus conversion to fairness at closing of not less than $15M of excellent personal convertible securities and accrued curiosity.
As a closing of the enterprise mixture, not less than $50M in internet proceeds are required, together with as much as $25M backstop dedication from NKGen Biotech’s majority stockholder, which is able to fund trials and operations via Q2 2025.
The enterprise mixture is predicted to shut in Q3 2020.
