Company: HCWB
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001193125-25-032115
Chunk: 27

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 27
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 Split will be the same such U.S.
holder’s aggregate tax basis in the shares of our Common Stock that such U.S. holder owned immediately prior to the Reverse Stock Split. The holding period for the shares of our Common Stock received in a Reverse Stock Split will include the
period during which a U.S. holder held the shares of our Common Stock that were surrendered in the Reverse Stock Split. The United States Treasury regulations provide detailed rules for allocating the tax basis and holding period of the shares of
our Common Stock surrendered to the shares of our Common Stock received pursuant to the Reverse Stock Split. U.S. holders of shares of our Common Stock acquired on different dates and at different prices should consult their tax advisors regarding
the allocation of the tax basis and holding period of such shares.

THE FOREGOING IS INTENDED ONLY AS A SUMMARY OF CERTAIN FEDERAL INCOME TAX CONSEQUENCES
OF A REVERSE STOCK SPLIT, AND DOES NOT CONSTITUTE A TAX OPINION. EACH HOLDER OF SHARES OF OUR COMMON STOCK SHOULD CONSULT ITS OWN TAX ADVISOR REGARDING THE TAX CONSEQUENCES OF A REVERSE STOCK SPLIT TO THEM AND FOR REFERENCE TO APPLICABLE PROVISIONS
OF THE CODE.

Vote Required

Stockholders can
voteFOR, AGAINST orABSTAIN on Proposal One.

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The affirmative vote of the majority of votes cast on the proposal is required to approve Proposal One.
Proxies solicited by the Board will be voted for approval of this proposal, unless otherwise specified. If stockholder approval for this proposal is not obtained then the Reverse Stock Split will not be effected.

Recommendation of the Board

The Board recommends a vote FOR Proposal One.

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PROPOSAL TWO

APPROVAL OF THE ISSUANCE OF SHARES OF THE

COMPANY’S COMMON STOCK PURSUANT TO AN EQUITY LINE OF CREDIT WITH

SQUARE GATE.

General Information About the Equity Line of Credit.

The Company entered into an Equity Purchase Agreement (the “Purchase Agreement”) and a
Registration Rights Agreement (the “Registration Rights Agreement”) with Square Gate Capital Master Fund, LLC – Series 4 (“Square Gate”), pursuant which Square Gate agreed to purchase, from time to time at the Company’s
election, up to $40,000,000 in shares of our common stock, subject to certain limitations (the “Equity Line of Credit” or “ELOC”). Copies of the Purchase Agreement and Registration Rights Agreement are attached hereto as
Appendix A