---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-109139"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2025-08-15T23:59:59+00:00"
generated_at: "2026-05-17T12:29:54.356992+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# HCW Biologics amends $20M equity line to allow intraday share sales to Square Gate Capital

## Summary
- First Amendment to $20M Equity Purchase Agreement with Square Gate Capital allows multiple intraday share purchases on same trading day.
- Intraday Put Shares priced at 100% of lowest trade price during shortened valuation period after Transfer Agent confirms DWAC.
- Company may submit additional put notices only after prior shares' DWAC confirmed; investor must accept within 30 minutes.
- Total commitment remains $20M over 36 months; no other changes to original February 2025 terms.

## SEC filing metadata
- accession: 0000950170-25-109139
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2025-08-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000095017025109139/0000950170-25-109139-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000095017025109139/hcwb-20250814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-109139
- JSON: https://secwatch.observer/filing/0000950170-25-109139.json
- Plain text: https://secwatch.observer/filing/0000950170-25-109139.txt

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