---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-048586"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2025-04-01T23:59:59+00:00"
generated_at: "2026-05-24T01:05:18.175173+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-048586
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2025-04-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.07, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000095017025048586/0000950170-25-048586-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000095017025048586/hcwb-20250401.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-048586
- JSON: https://secwatch.observer/filing/0000950170-25-048586.json
- Plain text: https://secwatch.observer/filing/0000950170-25-048586.txt

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