Company: HCWB
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0000950170-25-048619
Chunk: 0

Company: HCW Biologics Inc.
Filing Date: 2025-04-01
Form: 8-K
Item: Item 3.03
Chunk 0
---
Item 3.03 Material Modification to Rights of Security Holders.

On March 31, 2025, at a Special Meeting of Stockholders of HCW Biologics Inc., a Delaware corporation (the “ Company”), the stockholders granted to the Board of Directors of the Company the authority to effectuate a reverse split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “ Common Stock”). Immediately thereafter, the Board of Directors approved a reverse split of the Common Stock at a ratio of 1 - for - 40 (the “ Reverse Stock Split”). The Company expects that the effective time of the Reverse Stock Split will be at or about 12:01 a. m. Eastern time on Friday, April 11, 2025 (the “ Effective Date”), with the Common Stock trading on The Nasdaq Capital Market (“ Nasdaq”) on a reverse split-adjusted basis under the Company’s existing trading symbol, “ HCWB,” at the market open on Friday, April 11, 2025.

Reasons for Reverse Stock Split

The Company is effectuating the Reverse Stock Split to raise the per-share bid price of its Common Stock above $1.00 per share and to regain compliance with Nasdaq Listing Rule 5810(c)(3)(A). The Company will have regained compliance once the Company’s Common Stock trades at or above $1.00 for a minimum of 10 consecutive trading days, at which time the Company expects that Nasdaq will provide the Company with notice that it has regained compliance with that Rule. The Company expects its Common Stock will have traded at or above $1.00 per share for 10 consecutive trading days through April 28, 2025.

Effects of the Reverse Stock Split

Effective Date; Symbol; CUSIP Number. The Reverse Stock Split becomes effective with Nasdaq and the Common Stock will begin trading on a reverse split-adjusted basis at the open of business on April 11, 2025. In connection with the Reverse Stock Split, the CUSIP number for the Common Stock will change to 40423R204.

Split Adjustment; Treatment of Fractional Shares. On the Effective Date, the total number of shares of Common Stock held by each stockholder of the Company will be converted automatically into the number of shares of Common Stock equal to: (i) the number of issued and outstanding shares of Common Stock held by each such stockholder immediately prior to the Reverse Stock Split divided by (ii