Company: HCWB
Filing Date: 2025-04-28
Form Type: DRS
Source: 0000950123-25-003769
Chunk: 87

Company: HCW Biologics Inc.
Filing Date: 2025-04-28
Form: DRS
Chunk 87
---
 the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for
which the federal courts have exclusive jurisdiction. Section 22 of the Securities Act creates concurrent jurisdiction for state and federal courts over all suits brought to enforce any duty or liability created by the Securities Act or the
rules and regulations thereunder.

This choice of forum provision may limit a stockholder’s ability to bring a claim in a judicial
forum that it finds favorable for disputes with HCWB or its directors, officers, or other employees, which, along with potential increased costs of litigating the courts provided by the choice of forum provision, may discourage such lawsuits against
HCWB and its directors, officers, and employees. Alternatively, if a court were to find these provisions of HCWB’s amended and restated certificate of incorporation inapplicable to, or unenforceable in respect of, one or more of the specified
types of actions or proceedings, HCWB may incur additional costs associated with resolving such matters in other jurisdictions, which could adversely affect HCWB’s business and financial condition.

51

Confidential Treatment Requested by HCW Biologics Inc. Pursuant to 17 C.F.R. Section 200.83 USE OF PROCEEDS We estimate that the net proceeds from this offering will be approximately $[●] million (assuming no issuance of Pre-Funded Warrants), after deducting placement agent fees and estimated offering expenses payable by us. However, because this is a reasonable best efforts offering with no minimum number of securities or amount of proceeds as a condition to closing, the actual offering amount, placement agent fees and net proceeds to us are not presently determinable and may be substantially less than the maximum amounts set forth on the cover page of this prospectus, and we may not sell all or any of the securities we are offering. As a result, we may receive significantly less in net proceeds. Based on the assumed offering price set forth above, we estimate that our net proceeds from the sale of 75%, 50% or 25% of the Units offered in this offering would be approximately $[●] million, $[●] million and $[●] million, respectively, after deducting placement agent fees and estimated offering expenses payable by us. A $[●] increase (decrease) in the assumed public offering price of $[●] per Unit, would increase (decrease) the net proceeds to us from this offering by approximately $[●