HCW Biologics secures $20M equity purchase agreement, expandable to $40M

HCW Biologics Inc.

Equity Purchase Agreement with Square Gate Capital Master Fund for up to $20M initial, up to $40M total.
Company may sell shares at 98% of lowest daily VWAP over 3-day valuation period; no obligation to sell.
36-month commitment period; Investor prohibited from short sales or hedging.
$150,000 commitment fee paid in common shares; Registration Rights Agreement filed.
Proceeds to fund clinical development programs and expand R&D activities.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.