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

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 21
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 Reverse Stock Split results in any of our stockholders receiving whole shares in lieu of fractional shares as described above. Voting rights and other rights and preferences of the holders of our Common Stock will not be affected by a Reverse Stock Split. For example, a holder of 2% of the voting power of the outstanding shares of common stock immediately prior to the Reverse Stock Split would continue to hold 2% of the voting power of the outstanding shares of our Common Stock immediately after the Reverse Stock Split. The number of stockholders of record will not be affected by a Reverse Stock Split. A Reverse Stock Split would not affect our securities law reporting and disclosure obligations, and we would continue to be subject to the periodic reporting requirements of the Securities Exchange Act of 1934 (the “Exchange Act”). The principal effects of a Reverse Stock Split will be that:

| • |     | each twenty to fifty shares of our Common Stock owned by a stockholder (depending on the Reverse Stock Split 
 ratio selected by the Board), will be combined into one new share of our Common Stock;                       |

| • |     | no fractional shares of our Common Stock will be issued in connection with a Reverse Stock Split; instead, any 
 fractional shares resulting from the Reverse Stock Split will round up to the next whole share;                |

| • |     | proportionate adjustments will be made to the per share exercise price and the number of shares issuable upon the 
 exercise of warrants and all then-outstanding awards under all of the Company’s equity plans;                     |

| • |     | the number of stockholders owning “odd lots” of less than 100 shares of our Common Stock may increase; 
 and                                                                                                    |

| • |     | the number of shares then reserved for issuance under the Company’s equity plans will be proportionately 
 reduced.                                                                                                 |

The following table contains approximate information, based on share information as of February 18, 2025, showing the impact of a Reverse Stock Split at different ratios:

|                                            |     | Number of Shares 
 of Common Stock  
 Before Reverse   
 Stock Split      |             |     | 1-for-20 |             |     | 1-for-30 |             |     | 1-for-40 |             |     | 1-for-50 |             |
| Authorized                                 |     |                  | 250,000,000 |     |          | 250,000,000 |     |          | 250,000,000 |     |          | 250,000