Company: HCWB
Filing Date: 2025-04-28
Form Type: DRS
Source: 0000950123-25-003769
Chunk: 99

Company: HCW Biologics Inc.
Filing Date: 2025-04-28
Form: DRS
Chunk 99
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 in the net assets legally
available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of redeemable preferred stock.

60

Confidential Treatment Requested by HCW Biologics Inc.

Pursuant to 17 C.F.R. Section 200.83

Preemptive or Other Rights

Holders of Common Stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions
applicable to the Common Stock. The rights, preferences and privileges of the holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of redeemable preferred stock that we may
designate in the future.

Reverse Stock Split

As reported on the Form 8-K we filed with the SEC on April 1, 2025, as approved by our stockholders and board of directors on that date as
part of our plan to regain compliance with applicable continued listing rules of The Nasdaq Stock Market, we filed a Certificate of Amendment to our Certificate of Incorporation, as corrected, to effect a reverse stock split at a ratio of 40-to-1
with respect to shares of our Common Stock, which amendment became effective as of 12:01 a.m. Eastern time on April 11, 2025.

Our Transfer Agent

The transfer agent will continue to be Equiniti Trust Company, LLC.

Warrants

Common Stock Warrants

Overview. The following summary of certain terms and provisions of the Common Stock Warrants offered hereby is not complete and is
subject to, and qualified in its entirety by, the provisions of the warrant agency agreement between us and Equiniti Trust Company, LLC (the “Warrant Agent, and the form of Common Stock Warrant, each of which is filed as an exhibit to the
registration statement of which this prospectus is a part. Prospective investors should carefully review the terms and provisions set forth in the warrant agency agreement, including the annexes thereto and the form of Common Stock Warrant. Each
warrant issued in this offering entitles the registered holder to purchase one share of our Common Stock at a price equal to $[●] per share, subject to adjustment as discussed below, immediately following the issuance of such warrant and
terminating at 5:00 p.m., New York City time, on the fifth anniversary of the original issuance