Company: HCWB
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001193125-25-032115
Chunk: 5

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 5
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rather than through electronic delivery), the materials also included a proxy card or voting instruction form. 1

| Q: | What proposals are scheduled to be voted on at the meeting? |

| A: | Stockholders will be asked to vote on the following three proposals at the meeting, each of which are, among 
 other things, part of the Company’s plan to regain compliance with applicable Nasdaq listing requirements:   |

| 1. | To approve an amendment to the Company’s Certificate of Incorporation on or before the one (1) year                                                                                                                                    
 anniversary of the Special Meeting, to implement one or more reverse stock splits of the outstanding shares of the Company’s common stock, par value $0.0001 per share (our “Common Stock”) (as necessary to maintain a listing of our 
 Common Stock on Nasdaq) in an aggregate range from one-for-twenty (1:20) up to                                                                                                                                                         
 one-for-fifty (1:50), or anywhere between (the “Reverse Stock Split”), all as determined in the sole discretion of our Board (the “Reverse Stock Split                                                                                 
 Proposal”) (“Proposal One”); and                                                                                                                                                                                                       |

| 3. | To approve, for purposes of complying with Nasdaq Listing Rules 5635(c) and 5635(d), the issuance of                                                                                                                                                    
 shares of our Common Stock upon conversion of up to $6,905,000 of principal amount of Senior Secured Notes issued by the Company to certain investors therein, including certain officers, directors and stockholders of the Company (collectively, the 
 “Noteholders”), pursuant to that certain Amended and Restated Senior Secured Note Purchase Agreement dated July 7, 2024, as amended by the First Amendment to Amended and Restated Senior Secured Note Purchase Agreement dated                         
 September 30, 2024, and as it may be further amended in accordance with the Principal Terms for Conversion Amendment, which has been approved by the Company and the Noteholders and set forth on Appendix B attached hereto (the                       
 “Principal Terms”) and such additional terms and conditions not materially inconsistent with such Principal Terms for Conversion as the Board of Directors may hereafter approve (the “Note Conversion Proposal”) (“Proposal                            
 Three”).                                                                                                                                                                                                                                                |

Additionally, stockholders may be asked to transact any other business as may properly come before the Special Meeting or any adjournment or postponement thereof.

| Q: | Could matters other than Proposal One, Proposal Two and Proposal Three be decided at the meeting?