HCW Biologics Inc (HCWB) News & EventsHCWBNews & EventsHCW Biologics Inc

Selling Stockholders Plan to Sell 1.24M Shares of Common Stock

This filing relates to the offer and sale from time to time by the selling stockholders of up to 1.24M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.

HCW Biologics Completes $1.6M Private Placement

HCW Biologics announced the pricing of its $1.6M private placement offering with a group of investors, including officers, directors and an existing stockholder of the company. Pursuant to a securities purchase agreement entered into with the Investors, the company agreed to issue and sell an aggregate of 618,682 units, with each Unit consisting of (i) one share of the company's common stock, or, in lieu thereof, one pre-funded warrant to purchase one share of Common Stock, and (ii) the right to receive one common stock purchase warrant to purchase one share of Common Stock upon, and subject to, stockholder approval of the issuance thereof. In connection with the Offering, the company will issue 218,682 shares of Common Stock and 400,000 Pre-Funded Warrants. Subject to stockholder approval, which the company is obligated to seek pursuant to the terms of the Purchase Agreement, the Investors will also be entitled to receive Common Warrants to purchase up to an aggregate of 618,682 shares of Common Stock. The combined purchase price for each Unit consisting of one share of Common Stock and the right to receive one Common Warrant upon, and subject to, stockholder approval of the issuance thereof, was $2.585 per Unit. The combined purchase price for a Pre-Funded Warrant and the right to receive one Common Warrant upon, and subject to, stockholder approval of the issuance thereof, was $2.5849 per Unit. The Pre-Funded Warrants have an exercise price of $0.0001 per share of Common Stock, are exercisable immediately and will not expire until exercised in full. The Common Warrants will have an exercise price of $2.585 per share and will expire on the five and one half year anniversary of their issuance.

HCW Biologics to Execute 1-for-6 Reverse Split to Comply with Nasdaq Rules

HCW Biologics reported that the Nasdaq Hearings Panel of Nasdaq found that the company regained compliance with Listing Rule 5550, the "Bid Price Rule," per the terms set forth in the Panel's decision letter dated May 29 as amended, and is subject to a mandatory monitoring period through June 17, 2027. To ensure long-term compliance with the bid price rule, the company will effect a reverse stock split at a one-for-six ratio on June 30.