Company: HCWB
Filing Date: 2025-06-05
Form Type: 8-K
Source: 0000950170-25-082005
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Company: HCW Biologics Inc.
Filing Date: 2025-06-05
Form: 8-K
Item: Item 8.01
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 is now fully binding and HCW Biologics has earned the $7.0 million upfront license fee under the terms of the WY Agreement.

As a result of the transactions described above, the Company believes that, as of the date of the filing of this Current Report on Form 8-K, the Company has in excess of $2.5 million in stockholders’ equity. for continued listing on The Nasdaq Capital Market (an alternative standard to the MVLS Rule).

As of the date of this Current Report on Form 8-K, the Company believes it is currently in full compliance with all continued listing requirements for the Nasdaq Capital Markets. The Company awaits Nasdaq’s formal confirmation that it has evidenced compliance with all applicable criteria for continued listing on The Nasdaq Capital Market and will provide an update upon receipt of such determination.

Supplemental Information

On April 1, 2025, the Company filed a Form 8-K in which it disclosed the results of its Special Meeting of Stockholders (the “ Special Meeting”), at which the stockholders approved three proposals, including (1) a reverse stock split, (2) use of up to $40.0 million in an equity lines of credit, and (3) the principal terms for the conversion of at least $6.6 million of Secured Notes.

On April 11, 2025, a 1-for-40 reverse stock split was effective. On April 16, 2025, a registration statement registering the underlying shares of the equity line of credit was declared effective by the SEC. On May 7, 2025, the holders of $6.6 million of the outstanding principal of the Secured Notes converted their holdings under the principal terms for conversion approved by the Company’s stockholders.

On May 13, 2025, the Company issued a press release announcing the pricing of the Offering. On May 15, 2025, the Company filed a Form 8-K disclosing the closing of the Offering.

On May 30, 2025, the Company and Wugen, Inc. signed an agreement suspending the Wugen License Agreement for 12 months, providing relief to Wugen from its obligations related to clinical due diligence and the funding of $250,000 per year for product development support.

On June 4, 2025, the Company issued a press release announcing the formal acceptance of the technical report by WY Biotech and recognition of $7.0 million in revenue for the upfront license fee