Company: HCWB
Filing Date: 2025-04-07
Form Type: S-1
Source: 0001193125-25-073723
Chunk: 115

Company: HCW Biologics Inc.
Filing Date: 2025-04-07
Form: S-1
Chunk 115
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, with respect to any criminal action or Proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful. Such indemnification shall continue as to an Indemnitee who has ceased to be a director or officer of the Corporation and shall inure to the benefit of such Indemnitees’ heirs, executors and administrators. Notwithstanding the foregoing, subject to Section 6.5 of these Bylaws, the Corporation shall indemnify any such Indemnitee seeking indemnity in connection with a Proceeding (or part thereof) initiated by such Indemnitee only if such Proceeding (or part thereof) was authorized by the Board or such indemnification is authorized by an agreement approved by the Board. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is theretofore unenforceable. Item 15. Recent Sales of Unregistered Securities. During the past three years, we sold the following securities without registration under the Securities Act: Sale of Common Stock and Warrants On November 18, 2024, the Company entered into a securities purchase agreement (“SPA”) with a single institutional investor (the “Purchaser”) pursuant to which the Company agreed to offer and sell (i) in a registered II-4

direct offering (the “Registered Offering”) (x) 4,160,000 shares (the “Shares”) of the Company’s Common Stock, par value $0.0001 per share (the “Common Stock”), and (y) pre-fundedwarrants to purchase up to 2,557,000 shares of Common Stock (the “Pre-FundedWarrants”) and (ii) in a concurrent private placement (the “Private Placement” and together with the Registered Offering, the “Offering”), unregistered warrants to purchase up to an aggregate of 6,717,000 shares of Common Stock (“Common Stock Warrants”). The combined purchase price for each Share and accompanying Common Stock Warrant to purchase one share of Common Stock was $1.03 per Share and the combined purchase price for each Pre-FundedWarrant and accompany Common Stock Warrant to purchase one share of Common Stock is $1.0299. The Common Stock and Pre-FundedWarrants were each sold with an accompanying Common Stock Warrant to purchase one