Company: HCWB
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001193125-25-032115
Chunk: 22

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 22
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,000 |     |          | 250,000,000 |
| Issued and Outstanding1                    |     |                  |  44,540,394 |     |          |   2,227,020 |     |          |   1,484,680 |     |          |   1,113,510 |     |          |     890,808 |
| Issuable Upon Conversion of Senior Secured 
 Notes2                                     |     |                  |  10,123,083 |     |          |     506,154 |     |          |     337,436 |     |          |     253,077 |     |          |     202,462 |
| Issuable under Outstanding                 
 Equity Awards3                             |     |                  |   1,779,338 |     |          |      88,967 |     |          |      59,311 |     |          |      44,483 |     |          |      35,587 |
| Reserved for Future Issuance4              |     |                  |   3,444,343 |     |          |     172,217 |     |          |     114,811 |     |          |      86,109 |     |          |      68,887 |
| Authorized but Unissued and                
 Unreserved5                                |     |                  | 190,112,842 |     |          | 247,005,642 |     |          | 248,003,762 |     |          | 248,502,821 |     |          | 248,802,256 |

| 1 | Issued and outstanding shares include 6,717,000 shares of our Common Stock issued in an equity financing on 
 November 20, 2024.                                                                                          |

| 2 | The conversion of the Senior Secured Notes is subject to stockholder approval, but if approved, at least                  
 $6,580,000 of outstanding principal will convert to shares of our Commons Stock at a conversion price of $0.65 per share. |

| 5 | Consists of shares of Common Stock authorized but unissued and unreserved for future issuance. |

As illustrated in the table above, a Reverse Stock Split will not result in a reduction of the total number of shares of our Common Stock that we are authorized to issue. The par value of our Common Stock would remain unchanged at $0.0001 per share. After a Reverse