HCW Biologics Announces Pricing of $5.0 Million Follow-On Offering Priced At-The-Market Under NASDAQ Rules
HCW Biologics (NASDAQ: HCWB) has announced the pricing of a $5.0 million follow-on offering at $7.45 per unit. Each unit includes one share of common stock (or pre-funded warrant) and two warrants to purchase common stock. The warrants have an exercise price of $7.45 per share, are immediately exercisable, and expire in five years.
The offering is expected to close around May 15, 2025, with Maxim Group LLC acting as sole placement agent. The company plans to use the proceeds for preclinical and clinical development of HCW9302, business development, patent portfolio expansion, and general corporate purposes. Additionally, HCWB has agreed to reduce the exercise price of certain existing warrants from $41.20 to $7.45 per share.
HCW Biologics (NASDAQ: HCWB) ha annunciato il prezzo di un'offerta secondaria da 5,0 milioni di dollari a 7,45 dollari per unità. Ogni unità comprende un'azione ordinaria (o un warrant prefinanziato) e due warrant per l'acquisto di azioni ordinarie. I warrant hanno un prezzo di esercizio di 7,45 dollari per azione, sono esercitabili immediatamente e scadono dopo cinque anni.
L'offerta dovrebbe concludersi intorno al 15 maggio 2025, con Maxim Group LLC come unico agente di collocamento. La società prevede di utilizzare i proventi per lo sviluppo preclinico e clinico di HCW9302, lo sviluppo commerciale, l'espansione del portafoglio brevetti e scopi aziendali generali. Inoltre, HCWB ha accettato di ridurre il prezzo di esercizio di alcuni warrant esistenti da 41,20 a 7,45 dollari per azione.
HCW Biologics (NASDAQ: HCWB) ha anunciado el precio de una oferta secundaria de 5,0 millones de dólares a 7,45 dólares por unidad. Cada unidad incluye una acción ordinaria (o un warrant prefinanciado) y dos warrants para comprar acciones ordinarias. Los warrants tienen un precio de ejercicio de 7,45 dólares por acción, son ejercitables de inmediato y vencen en cinco años.
Se espera que la oferta cierre alrededor del 15 de mayo de 2025, con Maxim Group LLC como agente único de colocación. La compañía planea usar los ingresos para el desarrollo preclínico y clínico de HCW9302, desarrollo comercial, expansión del portafolio de patentes y propósitos corporativos generales. Además, HCWB ha acordado reducir el precio de ejercicio de ciertos warrants existentes de 41,20 a 7,45 dólares por acción.
HCW Biologics (NASDAQ: HCWB)는 단위당 7.45달러에 500만 달러 규모의 후속 공모 가격을 발표했습니다. 각 단위는 보통주 1주(또는 선지급 워런트 1개)와 보통주를 구매할 수 있는 워런트 2개로 구성됩니다. 워런트의 행사가격은 주당 7.45달러이며 즉시 행사 가능하고 만료일은 5년 후입니다.
이번 공모는 2025년 5월 15일경 마감될 예정이며, Maxim Group LLC가 단독 배정 대행사로 참여합니다. 회사는 자금을 HCW9302의 전임상 및 임상 개발, 사업 개발, 특허 포트폴리오 확장, 일반 기업 목적에 사용할 계획입니다. 또한 HCWB는 기존 일부 워런트의 행사가격을 주당 41.20달러에서 7.45달러로 인하하기로 합의했습니다.
HCW Biologics (NASDAQ : HCWB) a annoncé le prix d'une offre secondaire de 5,0 millions de dollars à 7,45 dollars par unité. Chaque unité comprend une action ordinaire (ou un warrant préfinancé) et deux warrants d'achat d'actions ordinaires. Les warrants ont un prix d'exercice de 7,45 dollars par action, sont exerçables immédiatement et expirent dans cinq ans.
L'offre devrait se clôturer aux alentours du 15 mai 2025, avec Maxim Group LLC agissant en tant qu'agent de placement unique. La société prévoit d'utiliser les fonds pour le développement préclinique et clinique de HCW9302, le développement commercial, l'expansion du portefeuille de brevets et des fins corporatives générales. De plus, HCWB a accepté de réduire le prix d'exercice de certains warrants existants de 41,20 à 7,45 dollars par action.
HCW Biologics (NASDAQ: HCWB) hat die Preisfestsetzung eines Folgeangebots über 5,0 Millionen US-Dollar zu 7,45 US-Dollar pro Einheit bekannt gegeben. Jede Einheit umfasst eine Stammaktie (oder einen vorausfinanzierten Warrant) sowie zwei Warrants zum Kauf von Stammaktien. Die Warrants haben einen Ausübungspreis von 7,45 US-Dollar pro Aktie, sind sofort ausübbar und laufen in fünf Jahren ab.
Das Angebot soll voraussichtlich um den 15. Mai 2025 abgeschlossen werden, wobei Maxim Group LLC als alleiniger Platzierungsagent fungiert. Das Unternehmen plant, die Erlöse für die präklinische und klinische Entwicklung von HCW9302, Geschäftsentwicklung, Erweiterung des Patentportfolios und allgemeine Unternehmenszwecke zu verwenden. Zudem hat HCWB zugestimmt, den Ausübungspreis bestimmter bestehender Warrants von 41,20 auf 7,45 US-Dollar pro Aktie zu senken.
- Secured $5.0 million in additional funding for clinical development and operations
- Proceeds will support development of HCW9302 and business expansion initiatives
- Warrants provide potential for additional future funding at $7.45 per share
- Offering will cause immediate dilution for existing shareholders
- Significant warrant coverage (2 warrants per share) could lead to future dilution
- Reduction of existing warrant exercise price from $41.20 to $7.45 indicates potential pressure on stock price
Insights
HCW Biologics raising $5M through dilutive equity offering to fund clinical programs, signaling near-term cash needs.
HCW Biologics has announced a
The structure of this deal is particularly noteworthy. The addition of two warrants per share creates potential for significant future dilution beyond the immediate
The stated use of proceeds focuses on funding their lead candidate HCW9302 along with business development, patent expansion, and general corporate purposes. This relatively small raise of
MIRAMAR, Fla., May 13, 2025 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company”), (NASDAQ: HCWB), a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen health span by disrupting the link between inflammation and age-related diseases, today announced the pricing of its follow-on offering of an aggregate of 671,140 units at a purchase price of
Maxim Group LLC is acting as the sole placement agent for the offering.
The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately
In addition, the Company has entered into a privately negotiated agreement with the holder of certain existing outstanding warrants to purchase up to 167,925 shares of common stock (the “Existing Warrants”) to reduce the exercise price of such Existing Warrants from
The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-287136), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 13, 2025. The offering is being made only by means of a prospectus which forms a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at www.sec.gov and may also be obtained by contacting Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About HCW Biologics:
HCW Biologics Inc. (NASDAQ: HCWB) is a clinical-stage biopharmaceutical company developing proprietary immunotherapies to treat diseases promoted by chronic inflammation, especially age-related and senescence-associated diseases. The Company’s immunotherapeutics represent a new class of drug that it believes have the potential to fundamentally change the treatment of cancer and many other diseases and conditions that are promoted by chronic inflammation — and in doing so, improve patients’ quality of life and possibly extend longevity. Chronic inflammation, including inflammaging, is believed to be a significant contributing factor to the cause for senescence-associated diseases and conditions that diminish healthspan, including many types of cancer, autoimmune diseases, and neurodegenerative diseases, as well as indications that impact quality-of-life that are not life-threatening. The Company’s lead product candidate, HCW9302, was developed using the Company’s legacy TOBI™ (Tissue factOr-Based fusIon) platform. The Company has created another drug discovery technology, the TRBC platform, which is not based on Tissue Factor. The TRBC platform has the capability to construct immunotherapeutics that not only activate and target immune responses but are also equipped with receptors that specifically target cancerous or infected cells. This platform is such a versatile scaffold that it enables the creation of multiple classes of immunotherapeutic compounds: Class I: Multi-Functional Immune Cell Stimulators; Class II: Second-Generation Immune Checkpoint Inhibitors; Class III: Multi-Specific Targeting Fusions and Enhanced Immune Cell Engagers. These novel immunotherapeutics can be used to treat a wide range of disease indications, including oncology, autoimmune diseases, and improving quality of life conditions. The Company has constructed over 50 molecules using the TRBC platform, including HCW11-002, HCW11-018 and HCW11-027. Further preclinical evaluation studies are currently being conducted for these three molecules the Company has selected based on promising early data. The Company has two licensing programs in which it has licensed exclusive rights for some of its proprietary molecules.
Forward-Looking Statements
Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words and include, the statements on the closing of the offering and the satisfaction of closing conditions and use of proceeds in the offering, the Company’s ability to develop new immunotherapeutic treatments for non-oncology or oncology indications; the capabilities of the Company’s new platform and the effectiveness of new fusion proteins developed using the new platform. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, but are not limited to, the risks and uncertainties that are described in the section titled “Risk Factors” in the annual report on Form 10-K filed with the United States Securities and Exchange Commission (the “SEC”) on March 28, 2025 and in other filings filed from time to time with the SEC. Forward-looking statements contained in this press release are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Company Contact:
Rebecca Byam
CFO
HCW Biologics Inc.
rebeccabyam@hcwbiologics.com
FAQ
What is the size and price of HCWB's May 2025 follow-on offering?
How will HCW Biologics use the proceeds from its 2025 offering?
What are the terms of HCWB's May 2025 offering warrants?
Who is the placement agent for HCWB's 2025 follow-on offering?
What changes were made to HCWB's existing warrants in May 2025?
