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

Core Viewpoint - HCW Biologics Inc. has entered into a warrant inducement agreement with an investor for the immediate exercise of certain outstanding warrants, which is expected to generate approximately $4.0 million in gross proceeds [1][3]. Group 1: Warrant Inducement Agreement - The investor has agreed to a reduced exercise price of $2.66 for the November 2024 and May 2025 Warrants, allowing the purchase of 167,925 and 1,342,280 shares of common stock, respectively [1]. - In exchange for the immediate exercise of existing warrants, the company will issue unregistered warrants to purchase an aggregate of 3,020,410 shares at an exercise price of $2.41 per share [3]. - The closing of the warrant exercise transactions is anticipated to occur on or about November 20, 2025, subject to customary closing conditions [4]. Group 2: Company Overview - HCW Biologics Inc. is a clinical-stage biopharmaceutical company focused on developing innovative immunotherapies targeting chronic inflammation and related diseases [7]. - The company's lead product candidate, HCW9302, is being evaluated in a Phase 1 clinical trial for autoimmune diseases, with additional TRBC-based molecules in the IND-enabling process for cancer and age-related diseases [8]. - HCW Biologics has developed over 50 molecules using its TRBC platform, which aims to create a new class of immunotherapeutics for various disease indications [7][8].