Company: HCWB
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001193125-25-032115
Chunk: 40

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 40
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 any Transaction Document and which shall be deemed to include any investigation of the Company, its directors or its officers by the SEC.

“” shall mean up to Forty Million Dollars ($40,000,000.00), which amount shall initially be Twenty
Million Dollars ($20,000,000) (the “”), and upon utilizing the entire Initial Amount, the Company shall have the right to an additional amount equal to the lesser of (x) Twenty Million Dollars ($20,000,000) or
(y) an amount equal to one hundred percent (100%) of the Company’s market capitalization as of such date.

“” shall mean the least of (i) one hundred percent (100%) of the Average Daily Trading Volume over the five (5) Trading Days preceding the applicable Put Date, (ii) thirty percent (30%) of the daily trading volume on the
applicable Put Date, and (iii) the quotient (rounded up or down to the nearest whole number) obtained by dividing (x) Five Hundred Thousand Dollars ($500,000) by (y) the closing price on the applicable Put Date (in each case to be
appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction during the applicable period).

“” shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof.

“” shall mean
The Nasdaq Global Market or The Nasdaq Capital Market.

“” shall mean ninety-eight percent (98%) of the
lowest daily VWAP of the Common Stock on the Principal Market during the Valuation Period.

“” shall mean the right of
the Company to require the Investor to purchase Common Stock at the Purchase Price, subject to the terms and conditions of this Agreement.

“” shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to
.

“” shall mean a written notice, substantially in the form of
hereto, addressed to the Investor and setting forth the amount of Put Shares which the Company intends to require the Investor to purchase pursuant to the terms of this Agreement.

“” shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable
Put Notice in accordance with the terms and conditions of this Agreement.

“” means that
agreement in the form attached hereto as .

“” shall have