---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-072700"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2025-05-15T23:59:59+00:00"
generated_at: "2026-05-21T05:33:59.481677+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# HCW Biologics prices $5.0M follow-on offering at $7.45/unit, amends existing warrants

## Summary
- 671,140 units priced at $7.45/unit, each consisting of one share (or pre-funded warrant) and two warrants.
- Gross proceeds of $5.0M; closed May 15, 2025; Maxim Group as sole placement agent.
- Amended existing warrants for 167,925 shares, reducing exercise price from $41.20 to $7.45 per share.
- Warrants exercisable immediately at $7.45, expire in five years; pre-funded warrants at $0.0001, no expiration.
- Proceeds to fund clinical trials for HCW9302, business development, R&D, and general corporate purposes.

## SEC filing metadata
- accession: 0000950170-25-072700
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2025-05-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000095017025072700/0000950170-25-072700-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000095017025072700/hcwb-20250513.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-072700
- JSON: https://secwatch.observer/filing/0000950170-25-072700.json
- Plain text: https://secwatch.observer/filing/0000950170-25-072700.txt

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