Company: HCWB
Filing Date: 2025-04-07
Form Type: S-1
Source: 0001193125-25-073723
Chunk: 101

Company: HCW Biologics Inc.
Filing Date: 2025-04-07
Form: S-1
Chunk 101
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 not exceed the
average weekly reported trading volume of Common Stock during the four calendar weeks preceding the filing of a notice on Form 144 with respect to the sale.

Sales by affiliates of HCWB under Rule 144 are also limited by manner of sale provisions and notice requirements and by the availability
of current public information about HCWB.

67

PLAN OF DISTRIBUTION The shares of Common Stock listed in the table appearing under “Selling Stockholders” are being registered to permit the resale of Common Stock by the selling stockholders from time to time after the date of this prospectus. There can be no assurance that the selling stockholders will sell any or all of the Common Stock offered hereby. We will not receive any of the proceeds from the sale of the Common Stock by the selling stockholder. The selling stockholders may sell all or a portion of the Common Stock offered hereby from time to time directly to purchasers or through one or more underwriters, broker-dealers or agents, at either market prices prevailing at the time of sale or at privately negotiated prices (but not at a fixed price), by a variety of methods including the following:

| • |     | on any national securities exchange or                                                         
 over-the-counter market on which the Common Stock may be listed or quoted at the time of sale; |

| • |     | ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; |

| • |     | block trades in which a broker-dealer may attempt to sell the shares as agent but may position and resell a 
 portion of the block as principal to facilitate the transaction;                                            |

| • |     | purchases by a broker-dealer, as principal, and a subsequent resale by the broker-dealer for its account; |

| • |     | an exchange distribution in accordance with the rules of the applicable exchange; |

| • |     | private negotiation transactions; |

| • |     | in transactions otherwise than on such exchanges or in the over-the-counter market; |

| • |     | through a combination of any such methods; or |

| • |     | through any other method permitted under applicable law. |

We will pay the reasonable expenses incident to the registration and offering of the Common Stock offered hereby. We have agreed to indemnify the selling stockholders and certain other persons against certain liabilities in connection with the offering of shares offered hereby, including liabilities arising under the Securities Act or if such indemnity is unavailable, to contribute amounts required to be paid in respect of such liabilities. The selling stock