Material Event - Form 8-K

Item 8.01 Other Events.

On March 25, 2024, Nkarta, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Leerink Partners LLC and Cowen and Company, LLC, as representatives of the several underwriters named therein (the "Underwriters"), relating to the issuance and sale (the "Offering") of 21,010,000 shares (the "Shares") of the Company's common stock, par value $0.0001 per share (the "Common Stock") at an offering price of $10.00 per share, and pre-funded warrants to purchase 3,000,031 shares of the Common Stock (the "Pre-Funded Warrants") at an offering price of $9.9999 per warrant. On March 27, 2024, the Company issued and delivered the Shares and Pre-Funded Warrants.

Net proceeds to the Company from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, are approximately $225.2 million. The Company intends to use the net proceeds from the offering to fund the continued research and clinical development of NKX019, the continued buildout of internal manufacturing capabilities, and for working capital and for general corporate purposes.

The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities arising under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for the purposes of such agreement and as of specific dates, and were solely for the benefit of the parties to such agreement.

Each Pre-Funded Warrant will have an exercise price per share of $0.0001. The exercise price and the number of shares of Common Stock issuable upon exercise of each Pre-Funded Warrant is subject to appropriate adjustments in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting the Common Stock. The Pre-Funded Warrants will be exercisable immediately and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. A holder will not be entitled to exercise any portion of any pre-funded warrant that, upon giving effect to such exercise, would cause: (i) the aggregate number of shares of Common Stock beneficially owned by such holder (together with its affiliates) or (ii) the combined voting power of the securities beneficially owned by such holder (together with its affiliates) to exceed 19.99% or violate any of the Rules of the Nasdaq Stock Market LLC, including Rule 5635(b) thereof. However, any holder of a pre-funded warrant may increase or decrease such percentage to any other percentage not in excess of 19.99% upon at least 61 days' prior notice to the Company.

The Offering was made pursuant to the Company's registration statement on Form S-3 (File No. 333-270680), which was filed with the Securities and Exchange Commission (the "SEC") on March 17, 2023, and declared effective by the SEC on May 5, 2023.

The foregoing descriptions of the terms of the Underwriting Agreement and Pre-Funded Warrants are each qualified in their entirety by reference to the Underwriting Agreement and form of Pre-Funded Warrant, respectively, which are attached as Exhibit 1.1 and Exhibit 4.1 hereto, respectively, and incorporated by reference herein.