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HCW Biologics Enters into $4.0 Million Warrant Inducement Priced At-the-Market Under Nasdaq Rules

HCWB
  • HCW Biologics Inc. entered a warrant inducement agreement with an investor to exercise outstanding November 2024 and May 2025 warrants.
  • The investor agreed to exercise warrants for a total of 1,510,205 shares at an amended exercise price of $2.66 per share.
  • The transaction is expected to generate approximately $4.0 million in gross proceeds prior to fees and expenses.
  • In exchange for the exercise, HCW Biologics agreed to issue new unregistered warrants for 3,020,410 shares at an exercise price of $2.41 per share.
  • The new warrants are immediately exercisable, expire 5.5 years after issuance, and the company will file an SEC registration statement for their resale.
  • Maxim Group LLC served as the exclusive financial advisor for the transaction.
  • Closing of the warrant exercise is expected around November 20, 2025, subject to customary conditions.
  • HCW Biologics is a clinical-stage biopharmaceutical company focusing on immunotherapies targeting chronic inflammation to extend health span.
  • The company's lead candidate HCW9302 is in a Phase 1 clinical trial for autoimmune diseases, with IND-enabling processes underway for three TRBC-based cancer candidates.