Company: HCWB
Filing Date: 2025-04-07
Form Type: S-1
Source: 0001193125-25-073723
Chunk: 97

Company: HCW Biologics Inc.
Filing Date: 2025-04-07
Form: S-1
Chunk 97
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 holders of any outstanding series of preferred stock or any other outstanding class or series of stock of HCWB, the Charter does not permit our holders of Common Stock to act by consent in writing. Section 203 of the DGCL HCWB will be subject to the provisions of Section 203 of the DGCL, which we refer to as “Section 203” regulating corporate takeovers. In general, Section 203 prohibits a publicly held Delaware corporation from engaging, under certain circumstances, in a business combination with an interested stockholder for a period of three years following the date the person became an interested stockholder unless:

| • |     | prior to the date of the transaction, HCWB’s board of directors approved either the business combination or 
 the transaction that resulted in the stockholder becoming an interested stockholder;                        |

| • |     | upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the                                                                                                                                               
 interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the 
 interested stockholder, (1) shares owned by persons who are directors and also officers and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held                 
 subject to the plan will be tendered in a tender or exchange offer; or                                                                                                                                                                                    |

| • |     | at or subsequent to the date of the transaction, the business combination is approved by HCWB’s board of                                                                                                      
 directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the 
 interested stockholder.                                                                                                                                                                                       |

Generally, a business combination includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. An interested stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder status, did own 15% or more of a corporation’s outstanding voting stock. The provisions of Delaware law and the provisions of the Charter and HCWB’s Bylaws could have the effect of discouraging others from attempting hostile takeovers and as a consequence, they might also inhibit 64

temporary fluctuations in the market price of Common Stock that often result from actual or rumored hostile takeover attempts. These provisions