Company: HCWB
Filing Date: 2025-04-16
Form Type: 424B3
Source: 0001193125-25-082835
Chunk: 1

Company: HCW Biologics Inc.
Filing Date: 2025-04-16
Form: 424B3
Chunk 1
---
 the Purchase Warrant, will be sold at a price of $1.03 per share. See the sections of this prospectus entitled “Prospectus Summary-TheOffering” and “The Armistice Transaction” for more detail regarding the sale of shares under the Purchase Warrant. As used in this prospectus, references to the “Company,” “HCW Biologics,” “HCWB,” “we,” “us” or “our” refer to HCW Biologics Inc., a Delaware corporation. As used in this prospectus, “selling stockholders” refers to Square Gate and Armistice and their respective permitted assigns. We are registering the offer and sale of these securities to satisfy certain registration rights we have granted to Square Gate, and to facilitate Armistice’s exercise of the Purchase Warrant and issuance of shares of our Common Stock thereunder. The selling stockholders may offer, sell, or distribute all or a portion of the securities hereby registered publicly or through private transactions at prevailing market prices or at negotiated prices. We will not receive any of the proceeds from such sales of the shares of our Common Stock. We will bear all costs, expenses, and fees in connection with the registration of these securities, including with regard to compliance with state securities or “blue sky” laws. The selling stockholders of the Warrant Shares will bear all commissions and discounts, if any, attributable to their sale of shares of our Common Stock. We will bear certain commissions and discounts, if any, attributable to the sale of the Commitment Shares and the shares of our Common Stock underlying the ELOC Purchase Agreement. See the section entitled “Plan of Distribution” of this prospectus for additional information. Our Common Stock is listed on The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “HCWB”. On April 2, 2025, the last quoted sale price for our Common Stock as reported on Nasdaq was $0.2817 per share. We are an “emerging growth company,” as defined under the federal securities laws, and, as such, may elect to comply with certain reduced public company reporting requirements for future filings. Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading “ Risk Factors” beginning on page 11 of this prospectus before investing in our securities. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation