Company: HCWB
Filing Date: 2025-04-22
Form Type: 8-K
Source: 0000950170-25-056843
Chunk: 1

Company: HCW Biologics Inc.
Filing Date: 2025-04-22
Form: 8-K
Item: Item 8.01
Chunk 1
---
 has reflected the Cogent Bank loan as short-term debt, net, to reflect that the lender has the right to accelerate the loan under a discretionary default provision at any time.

On April 17, 2025, the Company received a summons and a copy of a complaint filed by BE& K in the Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida (the “ BE& K Complaint”). The BE& K Complaint was filed by BE& K Building Group, LLC as Plaintiff and each of the Company, Cogent Bank, B& I Contractors, Southern Painting, Dash Door & Closer Service, Inc., Fisk Electric Company and Lotspeich Co. of Florida as Defendants. BE& K Building Group, LLC v. HCW Biologics, et al., CACE-25-004668 (Fla. 17th Cir. Ct. 2025) (the “ BE& K Litigation”). The Company, as a Defendant, is required to respond to the BE& K Complaint by May 7, 2025. In the Complaint, BE& K, claims, among other allegations, that the Company breached the Project Contract and the Forbearance Agreement and seeks a judgment to be entered against the Company for damages, interest, costs, and any other relief the court deems reasonable. Certain of the other defendants identified in the Complaint have filed responsive pleadings, including cross-claims against the Company, in the BE& K Litigation. In addition, the Company is informed that, on or about April 18, 2025, Fisk Electric Company (which is a defendant in the BE& K Litigation) filed a separate complaint in the Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida (the “ Fisk Complaint”) against the Company, BE& K, and the other defendants in the BE& K Litigation. Fisk Electric Company v. HCW Biologics, Inc, et al., CACE-25-005747 (Fla. 17th Cir. Ct. 2025) (the “ Fisk Litigation”). The Company has not been served in the Fisk Litigation. The Company intends to respond in a timely fashion to the BE& K Complaint and cross-claims. The Company is currently seeking an alternative source of financing to satisfy the balances claimed under the mechanic’s liens filed by BE& K and subcontractors, as well as to complete the construction