Company: HCWB
Filing Date: 2025-04-07
Form Type: S-1
Source: 0001193125-25-073723
Chunk: 90

Company: HCW Biologics Inc.
Filing Date: 2025-04-07
Form: S-1
Chunk 90
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 the executive officer and director compensation arrangements discussed under “Executive Compensation” and “Director Compensation,” respectively, since January 1, 2022, the following are the only transactions or series of similar transactions to which we were or will be a party in which the amount involved exceeds the lesser of (i) $120,000 or (ii) 1% of the Company’s average total assets at year-end for the last two completed fiscal years and in which any director, nominee for director, executive officer, beneficial holder of more than 5% of our capital stock or any member of their immediate family or any entity affiliated with any of the foregoing persons had or will have a direct or indirect material interest. Private Placement On February 20, 2024, we entered into subscription agreements with certain of our officers and directors, pursuant to which we sold an aggregate of 1,785,718 shares of our Common Stock, $0.0001 par value per share, at a purchase price of $1.40 per share for an aggregate purchase price of $2.5 million. The following table summarizes the Common Stock purchased by our directors, executive officers, and beneficial owners of more than 5% of Common Stock.

| Name and Title                             |     | Shares of    
 Common Stock |         |     | Total Purchase 
 Price          |              |
|:-------------------------------------------|:----|:-------------|--------:|:----|:---------------|-------------:|
| Rebecca Byam, Chief Financial Officer      |     |              | 760,714 |     | $              | 1,064,999.60 |
| Dr. Hing C. Wong, Chief Executive Officer* |     |              | 739,288 |     | $              | 1,035,003.20 |
| Scott Garrett, Chairman of the Board       |     |              | 142,858 |     | $              |   200,001.20 |

| * | Beneficial owner of more than 5% of the Common Stock |

The shares have not been registered and will not be sold or transferred except as permitted under law and pursuant to registration or exemption therefrom. The Board of Directors and Audit Committee of the Board of Directors reviewed the transaction under the policy for Related Party Transactions and determined that the transaction was in compliance with such policy. Secured Note Financing As of October 31, 2024, we received approximately $6.9 million from the issuance of senior secured notes to certain accredited investors (the “