Company: HCWB
Filing Date: 2025-02-21
Form Type: 8-K
Source: 0000950170-25-024989
Chunk: 1

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: 8-K
Item: Item 1.01
Chunk 1
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 lowest daily VWAP during the Valuation Period (as defined in the Equity Purchase Agreement), in the case of a Valuation Period ending on the date that is at the end of the third trading day immediately following the applicable Put Date. The Company also agreed to a $150,000 commitment fee (the “ Commitment Fee”), which shall be in the form of shares of Common Stock to be issued to the Investor in accordance with the terms of the Equity Purchase Agreement.

On February 20, 2025, the Company entered into a registration rights agreement (the “ Registration Rights Agreement”) with the Investor, pursuant to which the Company agreed to submit to the U. S. Securities and Exchange Commission (the “ SEC”) an initial registration statement on Form S-1 (as amended, the “ Registration Statement”) by April 6, 2025 covering the resale of the Commitment Shares, which may have been, or which may from time to time be, issued under the Equity Purchase Agreement for public resale, and to use commercially reasonable efforts to cause the Registration Statement to be declared effective by the SEC.

The Equity Purchase Agreement and Registration Rights Agreement contain customary representations, warranties and agreements by the Company and customary conditions to the Investor’s obligation to purchase the Put Shares. Actual sales of shares of our common stock, if any, to the Investor under the Equity Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the Company’s common stock and determinations by the Company as to the appropriate sources of funding for the Company and its operations. The net proceeds to us from sales of our common stock to the Investor under the Equity Purchase Agreement, if any, will depend on the frequency and prices at which the Company sells shares to the Investor under the Equity Purchase Agreement. Any proceeds that the Company receives from sales of shares of our common stock to the Investor under the Equity Purchase Agreement will be used to advance our clinical development programs and expand our discovery, research and preclinical activities in the near term and in the future.

The foregoing description of the Equity Purchase Agreement and Registration Rights Agreement is a summary of the material terms of each such agreement, does not purport to be complete, and is qualified in its entirety by reference to the full text of the Equity Purchase Agreement and Registration Rights Agreement, which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated herein by reference.

Item 9.01 Financial Statements and