---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-015003"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:21:03.234101+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# HCW Biologics secures $26.25M secured development line of credit at 7% fixed rate

## Summary
- Agreement with Prime Capital Ventures, LLC for secured development line of credit up to $26.25M.
- Note bears 7% fixed interest per annum, due monthly; principal and accrued interest due April 20, 2028.
- $5.25M interest reserve and a $1.25M non-refundable fee payable from initial advance.
- Initial advance subject to permits and compliance; lender gets first priority lien on new Miramar facility.
- Covenants restrict liens, indebtedness, investments, mergers, and charter/bylaw amendments adverse to lender.

## SEC filing metadata
- accession: 0000950170-23-015003
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000095017023015003/0000950170-23-015003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000095017023015003/hcwb-20230421.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-015003
- JSON: https://secwatch.observer/filing/0000950170-23-015003.json
- Plain text: https://secwatch.observer/filing/0000950170-23-015003.txt

## Key facts
- Material Agreements
  HCW Biologics Inc. entered into Development Line of Credit Agreement with Prime Capital Ventures, LLC valued at $26.25 million (effective 2023-04-21).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Prime Capital Ventures, LLC
  - Value: $26.25 million
  - Effective: 2023-04-21
  source text: On April 21, 2023, HCW Biologics Inc. (the “Company”) entered into a secured Development Line of Credit Agreement (the “Agreement”) with Prime Capital Ventures, LLC, as lender (the “Lender”), pursuant to which the Lender shall advance loans to the Company in an aggregate principal amount not to exceed $26.25 million (the “Maximum Amount”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828673/000095017023015003/0000950170-23-015003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.