Material Event Form 8 K

Item 8.01 Other Events

On October 24, 2024, NKGen Biotech, Inc. (the "Company") as part of the Company's greater cost-reduction efforts, the Company placed 19 employees on furlough, effective October 27, 2024. During the furlough, impacted employees will not be allowed to work on Company matters and will not receive salary or wages. The Company will continue certain benefits for affected employees. The Company plans for the furlough to last from October 27, 2024 through November 9, 2024.

Additionally, the Company's inability to pay its payroll obligations may result in employees terminating their relationship with the Company and/or pursuing legal remedies. Since the Company's business is dependent on the efforts and talents of its employees to implement its products, a material loss of its employee base may result in the inability of the Company to operate its technology and meet its production obligations.

Forward Looking Statements

This Current Report on Form 8-K contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this Current Report on Form 8-K and the Press Release are forward-looking statements. Forward-looking statements contained in this Current Report on Form 8-K and the Press Release may be identified by the use of words such as "ensure," "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will", "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words.

Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the Company's control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those described more fully in the section titled "Risk Factors" in the Company's Annual Report on Form 10-K filed on April 16, 2024, as amended by the Form 10-K/A thereto filed April 29, 2024 and the Company's other filings with the U.S. Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.