IPO - HCW Biologics Inc.

Form Type: 10-Q

Filing Date: 2025-05-15

Corporate Action: Ipo

Type: Update

Accession Number: 000095017025072833

Filing Summary: On May 15, 2025, HCW Biologics Inc. closed an equity offering, raising gross proceeds of $5.0 million. The company has been actively restructuring its financial approach, having engaged in an equity line of credit up to $40 million approved during a special meeting of stockholders. Additionally, there was a reverse stock split effective April 11, 2025, at a ratio of one-for-forty. The financials show ongoing operating losses with a net loss of $2.196 million for the quarter ended March 31, 2025, down from a significantly larger loss of $7.468 million in the same period the previous year. Despite these losses, the financial statements indicate a change in fortunes as the company looks to stabilize its operations and further capitalize on its licenses and offerings. Legal proceedings related to the company's financial obligations to general contractors have been disclosed. The recent changes aim to bolster HCW Biologics' financial standing and operational effectiveness in the biopharmaceutical sector, primarily dealing with therapies for age-related diseases.

Form Type: 424B4

Filing Date: 2025-05-15

Corporate Action: Ipo

Type: New

Accession Number: 000119312525120468

Filing Summary: HCW Biologics Inc. is offering 671,140 units, each composed of one share of common stock and two warrants. The offering aims for gross proceeds of about $5 million at a public offering price of $7.45 per unit. The Common Stock is listed on Nasdaq under the symbol 'HCWB'. Investors are provided the option to purchase units that would otherwise exceed 4.99% ownership of common stock through pre-funded warrants, allowing a potential increase to 9.99% ownership. The offering is being conducted by Maxim Group LLC as the exclusive placement agent. The securities are expected to be issued by May 15, 2025, with no minimum offering requirement, leading to risks of insufficient proceeds for funding intended uses. A reverse stock split was previously approved by stockholders at a ratio of 1-for-40 effective April 11, 2025, impacting share numbers in this prospectus. The document underscores the speculative nature of the investment and includes risk factors concerning potential dilution, compliance with Nasdaq listing requirements, and ongoing litigation related to past intellectual property disputes. Additionally, concerns over the company's ability to operate as a going concern due to cash reserves are noted, alongside necessary future funding to advance product candidates.

Form Type: S-1/A

Filing Date: 2025-05-13

Corporate Action: Ipo

Type: Update

Accession Number: 000119312525118837

Filing Summary: This filing represents the Pre-Effective Amendment No. 1 to HCW Biologics Inc.'s Registration Statement on Form S-1, originally registered under the Securities Act of 1933 with registration number 333-287136. The document indicates that HCW Biologics Inc. is preparing to offer securities for sale to the public. The company is categorized as a smaller reporting and emerging growth company. The amendment is primarily for the inclusion of additional exhibits related to the previously filed registration. No changes to the core provisions of the initial registration statement are included. The filing discusses the regulatory compliance aspects and the intention to finalize the registration statement so that it can become effective, allowing the anticipated public offering to proceed. The anticipated sale date is indicated to be as soon as practicable following the effectiveness of the registration statement.

Form Type: S-1

Filing Date: 2025-05-09

Corporate Action: Ipo

Type: New

Accession Number: 000119312525116745

Filing Summary: HCW Biologics Inc. is offering up to 655,308 units, each comprising one share of common stock or one pre-funded warrant to purchase one share of common stock and two common stock warrants, each able to purchase up to one share of common stock. The offering is based on a public offering price of $7.63 per unit, with expected gross proceeds of approximately $5,000,000. The proceeds will help fund the company's development of proprietary immunotherapies targeting diseases associated with chronic inflammation, particularly age-related conditions. The offering includes an option for investors to purchase units that could lead to ownership exceeding 4.99% of the outstanding common stock. The securities will not be put in escrow and there is no minimum offering requirement, leading to potential risks associated with raising sufficient capital. HCW Biologics has an experienced leadership team, and has developed drug discovery platforms for treating various diseases. The company is also navigating risks related to past financial losses and ongoing legal proceedings, including a recently settled agreement that clarifies their operational strategy moving forward.

Form Type: DRS

Filing Date: 2025-04-28

Corporate Action: Ipo

Type: New

Accession Number: 000095012325003769

Filing Summary: HCW Biologics Inc. is in the process of offering units comprising shares of its common stock and warrants under a registration statement with the SEC. Each unit will include one share of common stock and a warrant to purchase one share, with Pre-Funded Warrants available for certain investors to manage ownership limits. The company aims to raise significant funds for developing proprietary immunotherapies targeting age-related diseases and cancer through its innovative drug platforms. The company completed a reverse stock split effective April 11, 2025, changing the outstanding share structure. The Initial public offering (IPO) will be based on market conditions, with up to several units anticipated to be sold. The offering is placed with Maxim Group LLC as the exclusive placement agent, supporting the sale of the units without a minimum amount required.

Form Type: CORRESP

Filing Date: 2025-04-15

Corporate Action: Ipo

Type: New

Accession Number: 000095017025054203

Filing Summary: HCW Biologics Inc. formally requests the U.S. Securities and Exchange Commission to accelerate the effectiveness of its Registration Statement on Form S-1 (Commission File No. 333-286409) to 3:00 p.m. Eastern Time on April 16, 2025, or as soon thereafter as practicable. The request includes an authorization for James Groth of Clark Hill PLC to orally modify or withdraw this acceleration request. Contact information for Mr. Groth is provided for any inquiries regarding this request, and the company expresses gratitude for the cooperation related to the matter.