secwatch.observer — SEC 8-K summary
======================================

Issuer:     HCW Biologics Inc. (HCWB)
CIK:        0001828673
Form:       8-K
Filed at:   2025-05-20T23:59:59+00:00
Accession:  0000950170-25-075235
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Armistice exercises 177,140 pre-funded warrants; convertible notes converted to insider shares at $7.45
--------------------------------------------------------------------------------

- Armistice Capital exercised pre-funded warrants for 177,140 shares of common stock on May 15.
- Convertible Bridge Notes ($270k principal, 10% PIK, due May 2026) converted at $7.45/share.
- CEO Hing C. Wong received 8,054 shares; Chairman Scott Garrett got 13,423 shares.
- Director Gary Winer received 1,342 shares; all conversion shares subject to 90-day lockup.
- Note holders also get contingent proceeds from future sale of Wugen common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828673/000095017025075235/0000950170-25-075235-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828673/000095017025075235/hcwb-20250515.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-075235

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer