Company: HCWB
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0000950170-25-109642
Chunk: 7

Company: HCW Biologics Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Item 1A
Chunk 7
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 As of June 30, 2024, all existing investors approved an Amended and Restated Note Purchase Agreement (“Amended and Restated Note Purchase Agreement”), with terms described below.  As of September 30, 2024, the Amended and Restated Note Purchase Agreement was amended to extend the last closing date to issue Additional Secured Notes to October 31, 2024.  See Exhibit 10.25.  No other terms were amended.  The material terms of the Additional Secured Notes are identical to the terms of the Initial Secured Notes.  

As of October 31, 2024, the Company issued an aggregate of $6.9 million of Secured Notes, with $2.9 million from the Company’s officers and members of the Board of Directors, including $2.4 million purchased by Dr. Hing C. Wong, Founder and Chief Executive Officer; $220,000 purchased by Rebecca Byam, Chief Financial Officer; $140,000 purchased by Scott T. Garrett, Chairman of the Board of Directors; $60,000 purchased by Gary M. Winer, who was a member of the Board of Directors at the time he made this investment; $25,000 purchased by Lee Flowers, Senior Vice President for Business Development; and $25,000 purchased by Rick S. Greene, member of the Board of Directors.