NKGN · As filed with the SEC
NKGen Biotech cash flow statement, by fiscal year
The statement as NKGen Biotech presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net income (loss) | — | — | 4,548,351 | — |
| Net loss | (44,286) | (82,954) | — | — |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation and amortization | 1,181 | 1,203 | — | — |
| Stock-based compensation | 4,142 | 4,135 | — | — |
| Amortization of right-of-use assets | 134 | 362 | — | — |
| Change in fair value of convertible promissory notes and convertible promissory notes due to related parties | — | 1,043 | — | — |
| Noncash lease expense | 0 | — | — | — |
| Noncash tax expense | 53 | — | — | — |
| Noncash interest expense (including related party amounts of $1,394 and $431 for the years ended December 31, 2024 and 2023, respectively) | 1,975 | 504 | — | — |
| Transaction costs expensed | — | 3,329 | — | — |
| Loss on issuance of forward purchase contract | — | 24,475 | — | — |
| Related Party | 1,394 | — | — | — |
| Loss on sale of property and equipment, net | 9 | — | — | — |
| Loss on issuance of financial instruments (including related party amounts of $639 and zero for the years ended December 31, 2024 and 2023, respectively) | 25,959 | — | — | — |
| Related Party | 639 | — | — | — |
| Loss on amendments to financial instruments, net | 4,650 | 442 | — | — |
| Change in fair value of forward purchase derivative liability | — | 9,784 | — | — |
| Change in fair value of derivative warrant liabilities | — | 13,503 | (5,146.47) | — |
| Gain from extinguishment of deferred underwriting commissions allocated to derivative warrant liability | — | — | (179,595) | — |
| Income from investments held in Trust Account | — | — | (2,400,690) | — |
| Prepaid expenses | — | — | 569,972 | — |
| Accounts payable | — | — | 125,350 | — |
| Franchise tax payable | — | — | (142,500) | — |
| Income tax payable | — | — | 181,374 | — |
| Accrued expenses | — | — | 873,215 | — |
| Change in fair value of financial instruments (including related party amounts of $1,825 and $(12) for the years ended December 31, 2024 and 2023, respectively) | (16,072) | — | — | — |
| Related Party | (1,825) | — | — | — |
| Convertible bridge loans | 241 | — | — | — |
| Transaction costs expensed | 0 | — | — | — |
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 0 | 29 | — | — |
| Prepaid expenses and other current assets | (604) | (1,403) | — | — |
| Accounts payable and accrued expenses | 2,263 | 3,993 | — | — |
| Other current liabilities | (172) | — | — | — |
| Operating lease liabilities | (113) | (379) | — | — |
| Other, net | 0 | (14) | — | — |
| Net cash used in operating activities | (20,881) | (21,948) | (1,570.99) | — |
| Investing activities | ||||
| Income from investments released from Trust Account to pay for taxes | — | — | 568,642 | — |
| Purchases of property and equipment | — | 0 | — | — |
| Proceeds from sale of property and equipment | 35 | — | — | — |
| Purchases of capitalized software | (48) | (48) | — | — |
| Net cash used in investing activities | (13) | (48) | 568.64 | — |
| Financing activities | ||||
| Proceeds from exercise of common stock options | 0 | 12 | — | — |
| Proceeds received from sales of FPA Shares | 874 | — | — | — |
| Convertible Promissory Notes and Convertible Promissory Notes | — | 6,215 | — | — |
| Senior Convertible Promissory Notes with Warrants | — | 10,000 | — | — |
| Convertible 12% Promissory Notes | 16,105 | — | — | — |
| Convertible Promissory Notes Due to Related Parties and Warrants | 0 | — | — | — |
| Convertible bridge loans | 978 | — | — | — |
| Proceeds from issuance of bridge notes | 200 | — | — | — |
| Proceeds from issuance of PIPE warrants | 0 | 10,210 | — | — |
| Proceeds from exercise of the PIPE warrants | 250 | — | — | — |
| Proceeds from exercise of the convertible promissory note warrants | 82 | — | — | — |
| Proceeds from related party loans | 0 | 5,300 | — | — |
| Offering costs paid | — | — | (85,000) | — |
| Proceeds from draws on revolving line of credit | 0 | 4,991 | — | — |
| Proceeds from issuance of common stock | 100 | 1,668 | — | — |
| Proceeds from amendment to the FPA agreements | 2,112 | — | — | — |
| Proceeds from capital contributions | 3,107 | — | — | — |
| Repayment of related party loans | (1,000) | (300) | — | — |
| Payment in connection with letter agreements | (116) | — | — | — |
| Convertible 12% Promissory Notes | (327) | — | — | — |
| Convertible 12% Promissory Notes | (953) | — | — | — |
| Convertible bridge loans | (844) | — | — | — |
| Payment of transaction costs | 0 | (14,591) | — | — |
| Payment of debt issuance and modification costs on revolving line of credit | 0 | (100) | — | — |
| Repayments on paycheck protection loan | — | 0 | — | — |
| Payment of deferred underwriting fee | 0 | (1,250) | — | — |
| Payment of bridge notes | (215) | — | — | — |
| Proceeds from repayments of receivables from shareholder | 500 | — | — | — |
| Net cash provided by financing activities | 20,853 | 22,155 | (85) | — |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (41) | 159 | (1,087.35) | — |
| Cash, cash equivalents, and restricted cash at the beginning of year | 276 | 117 | 1,722.51 | — |
| Cash, cash equivalents, and restricted cash at the end of year | 235 | 276 | 635.16 | 1,722.51 |
| Supplemental cash flow information | ||||
| Cash paid for interest expense | 953 | 241 | — | — |
| Supplemental disclosure of noncash investing and financing activities | ||||
| Offering costs included in accrued expenses | — | — | 13,924 | — |
| Cash paid for taxes | — | — | 257,000 | — |
| Related party loans and interest payable converted into common stock | — | 0 | — | — |
| Receivable from shareholders in connection with amendment of forward purchase contracts | 0 | 500 | — | — |
| Property and equipment included in accounts payable and accrued expenses | 0 | 73 | — | — |
| Conversion of liability classified warrants to equity pursuant to sequencing policy | 297 | — | — | — |
| Right-of-use assets obtained in exchange for new operating lease liability | 513 | — | — | — |
| Exercise of tranche right derivative | 572 | — | — | — |
| Initial issuance of subscription receivable | 626 | — | — | — |
| Capitalized software costs included in Accounts payable and accrued expenses | 19 | 15 | — | — |
| Issuance of subscription receivable | 0 | 32,915 | — | — |
| Conversion of liability classified stock to equity | — | 18,913 | — | — |
| Unpaid transaction costs included in accounts payable and accrued expenses | — | 5,802 | — | — |
| Convertible 12% Promissory Notes | 0 | — | — | — |
| Stock to Equity | 3,774 | — | — | — |
| Convertible bridge loans | 199 | — | — | — |
| Unpaid transaction costs included in accounts payable and accrued expenses | 0 | — | — | — |
| Assumption of derivative warrant liabilities | 0 | 2,046 | — | — |
| Conversion of warrant derivative liabilities to equity | 697 | — | — | — |
| Conversion of convertible promissory notes to equity | 1,032 | — | — | — |
| Exercise of warrants | 753 | — | — | — |
| Reclassification of accounts payable to related party promissory note | 266 | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.