MIRAMAR, Fla., Nov. 18, 2024 (GLOBE NEWSWIRE) — HCW Biologics Inc. (HCWB or HCW Biologics), (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical firm targeted on discovering and creating novel immunotherapies to elongate healthspan by disrupting the hyperlink between irritation and age-related ailments, in the present day introduced that it has entered right into a securities buy settlement with a single institutional investor to buy 6,717,000 shares of widespread inventory (or pre-funded warrants in lieu thereof) in a registered direct providing priced above market underneath Nasdaq guidelines. In a concurrent personal placement, the Firm additionally agreed to challenge unregistered warrants to buy as much as an mixture of 6,717,000 shares of widespread inventory. The mixed efficient providing worth for every share of widespread inventory (or pre-funded warrant in lieu thereof) and accompanying warrants is $1.03. The warrants may have an train worth of $1.03 per share, might be exercisable instantly, and expire on the 5 12 months anniversary from the date of issuance.
The gross proceeds to the Firm from the registered direct providing and concurrent personal placement are estimated to be roughly $6.9 million earlier than deducting the location agent’s charges and different providing bills payable by the Firm. The providing is predicted to shut on or about November 20, 2024, topic to the satisfaction of customary closing situations.
Maxim Group LLC is appearing as the only real placement agent in reference to the providing.
The shares of widespread inventory (or pre-funded warrants in lieu thereof) are being supplied pursuant to a shelf registration assertion on Kind S-3 (File No. 333-266991), which was declared efficient by the U.S. Securities and Trade Fee (the SEC) on August 26, 2022. The providing of shares of widespread inventory (or pre-funded warrants in lieu thereof) might be made solely by way of a prospectus complement that types part of such registration assertion. The warrants to be issued within the concurrent personal placement and the shares issuable upon train of such warrants have been supplied in a personal placement underneath Part 4(a)(2) of the Securities Act of 1933, as amended (the Act), and Regulation D promulgated thereunder and haven’t been registered underneath the Act or relevant state securities legal guidelines.
This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase, nor will there be any gross sales of those securities in any jurisdiction through which such supply, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of such jurisdiction. A prospectus complement referring to the shares of widespread inventory and pre-funded warrants might be filed by the Firm with the SEC. When accessible, copies of the prospectus complement referring to the registered direct providing, along with the accompanying prospectus, will be obtained on the SEC’s web site at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Consideration: Syndicate Division, or by way of e mail at syndicate@maximgrp.com or phone at (212) 895-3500.
About HCW Biologics:
HCW Biologics is a clinical-stage biopharmaceutical firm targeted on discovering and creating novel immunotherapies to elongate healthspan by disrupting the hyperlink between power, low-grade irritation, and age-related ailments, similar to most cancers, cardiovascular, diabetes, neurodegenerative, and autoimmune ailments, in addition to different inflammatory situations similar to long-haul COVID-19. The Firm has mixed a deep understanding of disease-related immunology with its experience in superior protein engineering to develop two drug discovery platforms, every with a novel spine which is used to generate designer, novel multi-functional fusion molecules with immunotherapeutic properties. The Firm’s legacy drug discovery platform is its TOBI™ (Tissue factOr-Based mostly fusIon) discovery platform, which has a Tissue-Issue based mostly spine. It was used to create HCW Biologics’ molecules: HCW9218, HCW9302, HCW9206 and HCW9201. The Firm’s second drug discovery platform makes use of a novel protein-based spine differentiated from Tissue Issue. Immunotherapeutics created with the Firm’s two distinct drug discovery platforms have totally different traits and mechanisms of motion, increasing the varied pathways for treating senescence-associated problems. The College of Pittsburgh Medical (TASE:) Heart (UPMC) has agreed to incorporate HCW9218 in an Investigator-sponsored Section 2 medical trial to judge sufferers with metastatic, superior stage ovarian most cancers together with neoadjuvant chemotherapy (NCT05145569).
Ahead-Trying Statements
Statements on this press launch include forward-looking statements which might be topic to substantial dangers and uncertainties. These statements are made underneath the secure harbor provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements contained on this press launch could also be recognized by means of phrases similar to anticipate, anticipate, imagine, will, could, ought to, estimate, venture, outlook, forecast or different related phrases and embrace, the statements on the closing of the providing and the satisfaction of closing situations and use of proceeds within the providing, the Firm’s potential to develop new immunotherapeutic remedies for non-oncology or oncology indications; the capabilities of the Firm’s new platform and the effectiveness of recent fusion proteins developed utilizing the brand new platform. Ahead-looking statements are based mostly on the Firm’s present expectations and are topic to inherent uncertainties, dangers and assumptions which might be tough to foretell. Additional, sure forward-looking statements are based mostly on assumptions as to future occasions that will not show to be correct. Components that would trigger precise outcomes to vary embrace, however usually are not restricted to, the dangers and uncertainties which might be described within the part titled Danger Components within the annual report on Kind 10-Ok/A filed with america Securities and Trade Fee (the SEC) on Could 15, 2024, the most recent Kind 10-Q filed with the SEC on November 14, 2024, and in different filings filed occasionally with the SEC. Ahead-looking statements contained on this press launch are made as of this date, and the Firm undertakes no obligation to replace such info besides as required underneath relevant legislation.
Firm Contact:
Rebecca Byam
Chief Monetary Officer
HCW Biologics Inc.
RebeccaByam@hcwbiologics.com
Supply: HCW Biologics, Inc
