# EDGAR Filing Document

**Accession Number:** 0001866258
**File Stem:** 0000950170-25-086261
**Filing Date:** 2025-6
**Character Count:** 7927
**Document Hash:** ad7d83c77a4ef4476081e5b877afa460
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-086261.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0000950170-25-086261

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HCW Biologics Inc.
- **CENTRAL INDEX KEY:** 0001828673
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 825024477
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-92734
- **FILM NUMBER:** 251047069

**BUSINESS ADDRESS:**
- **STREET 1:** 2929 N COMMERCE PKWY
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33025
- **BUSINESS PHONE:** 954-842-2024

**MAIL ADDRESS:**
- **STREET 1:** 2929 N COMMERCE PKWY
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33025
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wong Hing C
- **CENTRAL INDEX KEY:** 0001866258

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** C/O HCW BIOLOGICS, INC.
- **STREET 2:** 2929 N COMMERCE PKWY
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33025

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**HCW BIOLOGICS INC.**

*(Name of Issuer)*

**Common Stock, par value $0.0001 per share**

*(Title of Class of Securities)*

**40423R204**

*(CUSIP Number)*

**Hing C. Wong, Ph.D.**<br>HCW Biologics Inc.<br>2929 N. Commerce Parkway<br>Miramar FL 33025<br>954-842-2024

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/15/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **40423R204** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Hing C. Wong, Ph.D.** | Name of reporting person<br>**Hing C. Wong, Ph.D.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**398719.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**103192.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**398719.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**103192.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**501911.00** | Aggregate amount beneficially owned by each reporting person<br>**501911.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**23.38%** | Percent of class represented by amount in Row (11)<br>**23.38%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Lines 8 and 10:  Represents shares of Common Stock held in the joint names of Hing C. Wong, Ph.D., and his spouse, Ms. Bee Yau Huang.
Line 11:  Includes 103,192 shares of Common Stock held in the joint names of Hing C. Wong, Ph.D., and his spouse, Ms. Bee Yau Huang.
Line 13:  Percentage calculated based on 2,146,601 shares of common stock, par value $0.0001 per share, outstanding as of May 15, 2025, the closing date of the Company's follow-on public offering, as previously reported.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.0001 per share

**(b) Name of Issuer:**
HCW BIOLOGICS INC.

**(c) Address of Issuer's Principal Executive Offices:**
2929 N. Commerce Parkway, Miramar, FL, 33025

**Item 4. Purpose of Transaction**

Clean up the balance sheet through extinguishment of debt for equity.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As previously reported, on May 7, 2025, HCW Biologics Inc. (the "Company") converted $6.6 million of the outstanding principal of its Secured Notes.  In such conversion, the Company issued 253,083 unregistered shares of Common Stock at $26.00 per share and warrants that may be exercised to purchase up to $3.3 million of Common Stock at $26.00 per share.  No warrants have been exercised.

As previously reported, on May 15, 2025, the Company issued 671,140 registered shares of Common Stock at $7.45 per Unit, consisting of a share of Common Stock or a Pre-Funded Warrant to purchase one share of Common Stock and two warrants, each to purchase one share of Common Stock.  At closing, the Company issued 158,000 shares of Common Stock and Pre-Funded Warrants to purchase 513,140 shares of Common Stock.  As reported by the Company, since issuance, the investor exercised 459,140 of its Pre-Funded Warrants to purchase shares of Common Stock.

As previously reported, on May 15, 2025, the Company converted $270,000 of the outstanding principal of unsecured promissory notes.  In such conversion, the Company issued 36,242 registered shares of Common Stock at $7.45 per share.

**(b)**
The Reporting Person has beneficial ownership of 501,911 shares of Common Stock.  The percentage of beneficial ownership is approximately 23.38% of outstanding shares of Common Stock.  The percentage of Common Stock is based on 2,146,601 shares of Common Stock issued and outstanding as of May 15, 2025.

The Reporting Person has the sole power to dispose or direct the disposition of all shares of Common Stock that the Reporting Person beneficially owned as of May 15, 2025, except for 103,192 shares of Common Stock which he shares the power to dispose or direct the disposition of with his spouse, Ms. Bee Yau Huang.

**(c)**
Other than as previously reported, the Reporting Person has not effected any transaction in Common Stock in the last 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The Reporting Person entered into an agreement dated May 1, 2025 with the Company in which he agreed not to sell, transfer, pledge or otherwise dispose of any shares of Common Stock that he received as a result of the conversion of the Secured Notes for a period of 180 days from the time of conversion which occurred on May 7, 2025.  The Reporting Person also entered into an agreement dated May 5, 2025 with the Company to which he agreed not to sell, transfer, pledge or otherwise dispose of any shares of Common Stock that he received as a result of the conversion of the unsecured promissory notes for period of 90 days from the time of conversion which occurred on May 15, 2025.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Hing C. Wong, Ph.D.

**Signature:** /s/ Hing C. Wong, Ph.D.

**Name/Title:** Founder and Chief Executive Officer, HCW Biologics Inc.

**Date:** 06/13/2025