HCW Biologics shareholders approve 1:40 reverse stock split; effective April 11, 2025

HCW Biologics Inc.

At special meeting March 31, 2025, shareholders approved reverse split (1:20 to 1:50 range) - 30.7M for, 201k against.
Board set final ratio at 1:40; effective 12:01 a.m. ET April 11, 2025; trading symbol remains HCWB.
Shareholders also approved ELOC with Square Gate Capital Master Fund and conversion of up to $6.905M of senior secured notes.
Note conversion proposal had 19.1M abstentions, suggesting possible insider conflict; approved with 7.8M for.
Reverse split aims to regain Nasdaq listing compliance; new CUSIP 40423R204.

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