MIRAMAR, Fla., Nov. 18, 2024 (GLOBE NEWSWIRE) — HCW Biologics Inc. (HCWB or HCW Biologics), (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical firm centered on discovering and growing novel immunotherapies to elongate healthspan by disrupting the hyperlink between irritation and age-related ailments, right now 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 problem unregistered warrants to buy as much as an mixture of 6,717,000 shares of widespread inventory. The mixed efficient providing value for every share of widespread inventory (or pre-funded warrant in lieu thereof) and accompanying warrants is $1.03. The warrants can have an train value of $1.03 per share, shall be exercisable instantly, and expire on the 5 yr 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 anticipated to shut on or about November 20, 2024, topic to the satisfaction of customary closing situations.
Maxim Group LLC is performing 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 provided 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) shall be made solely via a prospectus complement that varieties part of such registration assertion. The warrants to be issued within the concurrent personal placement and the shares issuable upon train of such warrants had been provided in a non-public 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 proposal to promote or the solicitation of a proposal to purchase, nor will there be any gross sales of those securities in any jurisdiction during which such provide, solicitation or sale could 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 shall be filed by the Firm with the SEC. When obtainable, copies of the prospectus complement referring to the registered direct providing, along with the accompanying prospectus, could 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 centered on discovering and growing 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-Primarily based 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 singular 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 issues. The College of Pittsburgh Medical (TASE:) Heart (UPMC) has agreed to incorporate HCW9218 in an Investigator-sponsored Part 2 scientific trial to guage sufferers with metastatic, superior stage ovarian most cancers together with neoadjuvant chemotherapy (NCT05145569).
Ahead-Trying Statements
Statements on this press launch comprise forward-looking statements which might be topic to substantial dangers and uncertainties. These statements are made underneath the protected 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 way of phrases similar to anticipate, count on, imagine, will, could, ought to, estimate, venture, outlook, forecast or different comparable phrases and embody, the statements on the closing of the providing and the satisfaction of closing situations and use of proceeds within the providing, the Firm’s means to develop new immunotherapeutic therapies 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 troublesome to foretell. Additional, sure forward-looking statements are based mostly on assumptions as to future occasions that won’t show to be correct. Components that might trigger precise outcomes to vary embody, however are usually not restricted to, the dangers and uncertainties which might be described within the part titled Danger Components within the annual report on Kind 10-Okay/A filed with the US 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 sometimes with the SEC. Ahead-looking statements contained on this press launch are made as of this date, and the Firm undertakes no responsibility to replace such info besides as required underneath relevant regulation.
Firm Contact:
Rebecca Byam
Chief Monetary Officer
HCW Biologics Inc.
RebeccaByam@hcwbiologics.com
Supply: HCW Biologics, Inc
