Company: HCWB
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0000950170-25-048619
Chunk: 1

Company: HCW Biologics Inc.
Filing Date: 2025-04-01
Form: 8-K
Item: Item 3.03
Chunk 1
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) 40. Any fractional share of Common Stock that would otherwise result from the Reverse Stock Split will be rounded up to the next whole share and, as such, any stockholder who otherwise would have held a fractional share after giving effect to the Reverse Stock Split will instead hold one whole share of the post-Reverse Stock Split Common Stock after giving effect to the Reverse Stock Split. As a result, no fractional shares will be issued in connection with the Reverse Stock Split and no cash, scrip, or other consideration will be paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split. The Company intends to treat stockholders holding shares of Common Stock in “street name” (that is, held through a bank, broker, or other nominee) in the same manner as stockholders of record whose shares of Common Stock are registered in their names. Banks, brokers, or other nominees will be instructed to effect the Reverse Stock Split for their beneficial holders holding shares of the Company's Common Stock in “street name”; however, these banks, brokers, or other nominees may apply their own specific procedures for processing the Reverse Stock Split.

Also on the Effective Date, all options and warrants of the Company outstanding immediately prior to the Reverse Stock Split will be adjusted by (i) dividing the number of shares of Common Stock into which the options and warrants are exercisable or convertible by 40 and (ii) multiplying the exercise or conversion price thereof by 40, all in accordance with the terms of the plans, agreements, or arrangements governing such options and warrants and subject to rounding up to the nearest whole share.

Non-Certificated Shares. Those Company stockholders who hold their shares in electronic form do not need to take any action, as the effect of the Reverse Stock Split will automatically be reflected in their accounts with the Company’s transfer agent. Those stockholders who hold their shares in “street name” will receive instructions from their bank, broker, or nominee.

Amended Certificate of Incorporation. The Company effected the Reverse Stock Split pursuant to the Company’s filing of an Certificate of Amendment of Certification of Incorporation with the Secretary of State of the State of Delaware on March 31, 2025, and a Certificate of Correction thereto on April 1, 2025, to advance the first day of trading on a reverse split-adjusted basis to April 11, 2025, all in accordance with the Delaware General Corporation Law. The Certificate of Amendment of Certificate of Incorporation, as corrected, is expected to