Company: HCWB
Filing Date: 2025-02-11
Form Type: PRE 14A
Source: 0001193125-25-024372
Chunk: 21

Company: HCW Biologics Inc.
Filing Date: 2025-02-11
Form: PRE 14A
Chunk 21
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 will be rounded up to the nearest whole number. Shares of common stock held in registered form and shares of common stock held in “street name” (that is, through a broker) for the same stockholder will be considered held in separate accounts and will not be aggregated when effecting the Reverse Stock Split. Principal Effects of the Reverse Stock Split General After the Effective Time, the number of our outstanding shares of common stock will decrease at the Reverse Stock Split ratio of not less than 1-for-20and not more than 1-for-50.The Reverse Stock Split would be effected simultaneously for all shares of common stock at the same ratio for all shares, resulting in each stockholder owning fewer shares of common stock. The Reverse Stock Split will affect all of our stockholders uniformly and will not affect any stockholder’s percentage ownership interest in the Company, except to the extent that the Reverse Stock Split results in any of our stockholders receiving whole shares in lieu of fractional shares as described above. Voting rights and other rights and preferences of the holders of common stock will not be affected by the Reverse Stock Split. For example, a holder of 2% of the voting power of the outstanding shares of common stock immediately prior to the Reverse Stock Split would continue to hold 2% of the voting power of the outstanding shares of common stock immediately after the Reverse Stock Split. The number of stockholders of record will not be affected by the Reverse Stock Split. The Reverse Stock Split would not affect our securities law reporting and disclosure obligations, and we would continue to be subject to the periodic reporting requirements of the Securities Exchange Act of 1934 (the “Exchange Act”). The principal effects of the Reverse Stock Split will be that:

| • |     | each twenty to fifty shares of common stock owned by a stockholder (depending on the Reverse Stock Split ratio 
 selected by the Board), will be combined into one new share of common stock;                                   |

| • |     | no fractional shares of common stock will be issued in connection with the Reverse Stock Split; instead, any 
 fractional shares resulting from the Reverse Stock Split will round up to the next whole share;              |

| • |     | proportionate adjustments will be made to the per share exercise price and the number of shares issuable upon the 
 exercise of warrants and all then-outstanding awards under all of the Company’s equity plans;                     |

| • |     | the number of stockholders owning “odd lots” of less than 100 shares of common stock may increase; and |

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