Company: HCWB
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001193125-25-116745
Chunk: 131

Company: HCW Biologics Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 131
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 May 7, 2025, pursuant to the Conversion Amendment, the Secured Notes held by the participating noteholders were cancelled, and the Company issued a total of 253,083 unregistered shares of Common Stock (which are subject to a 180-day lock-up) and unregistered warrants to purchase an additional 126,542 shares of Common Stock at an exercise price of $26.00 per share. As of May 7, 2025, we issued a total of $270,000 principal amount of unsecured convertible promissory notes that mature on May 5, 2026 with paid in kind interest accruing thereon, payable quarterly in arrears at 10% per annum (the “Convertible Bridge Notes”). In accordance with their terms, following the completion of this offering the Convertible Bridge Notes will be converted into shares of our Common Stock at the final offering price in this offering. In addition, holders of the Convertible Bridge Notes have the right to receive a portion of Wugen Proceeds with respect to a number of the Wugen Shares equal to 0.25 multiplied by the original principal amount, in dollars, of the Convertible Bridge Notes. Investors included: $60,000 invested by Hing C. Wong, the Company’s Founder and CEO; $100,000 invested by Scott T. Garrett, the Chairman of the Company’s Board of Directors; and $10,000 invested by Gary M. Winer, a member of the Company’s Board of Directors. Item 16. Exhibits. The exhibits to this registration statement are listed in the Exhibit Index to this registration statement, which immediately precedes the Signature Page, and which Exhibit Index is hereby incorporated by reference. Item 17. Undertakings. The undersigned registrant hereby undertakes:

| (1) | to file, during any period in which offers or sales are being made, a post-effective amendment to this 
 registration statement:                                                                                |

| (i) | to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933, as amended (the 
 “Securities Act”);                                                                                    |

| (ii) | to reflect in the prospectus any facts or events arising after the effective date of the registration statement                                                                                                                                         
 (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in    
 volume of