Company: HCWB
Filing Date: 2025-02-07
Form Type: 8-K
Source: 0000950170-25-016390
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Company: HCW Biologics Inc.
Filing Date: 2025-02-07
Form: 8-K
Item: Item 3.01
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed, on August 12, 2024, HCW Biologics Inc. (the “ Company”) received written notices from the Listing Qualifications Staff (“ Staff”) of the Nasdaq Stock Market LLC (“ Nasdaq”) which notified the Company that, for the 30 consecutive business days ended August 6, 2024, the Company’s security did not maintain a minimum bid price of $1 per share, in accordance with Nasdaq Listing Rule 5810(c)(3)(A) (“ Bid Price Rule”). Also on August 12, 2024, the Company received written notification from the Staff that for the 30 consecutive business days ended August 8, 2024, the Company’s market value of publicly held securities (“ MVPHS”) closed below the $15,000,000 MVPHS threshold required for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)C) (the “ MVPHS Rule”). The Company was granted a compliance period of 180 calendar days from the date of the notice (“ Compliance Period”) for these delinquencies, in accordance with Nasdaq Listing Rule 5810(c)(3)(A) for the Bid Price Rule and Nasdaq Listing Rule 5450(b)(2)C) for the MVPHS Rule. The Company did not regain compliance with the Bid Price Rule by February 3, 2025 or the MVPHS Rule by February 4, 2025. Accordingly, by letter dated February 5, 2025, the Staff notified the Company that its securities were subject to delisting from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearing Panel (the “ Panel”).

As previously disclosed on December 23, 2024, the Company received written notice from the Staff regarding for the 30 consecutive business days ended June 17, 2024, the Company’s market value of listed securities (“ MVLS”) closed below the $50,000,000 MVLS threshold required for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(3)(A) (the “ MVLS Rule”).

The Company was granted a request for a hearing before the Nasdaq Hearing Panel (the “ Panel”), which request will stay any further action by Nasdaq pending any extension that may be granted to the