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 creating novel immunotherapies to elongate healthspan by disrupting the hyperlink between irritation and age-related illnesses, right this moment introduced that it has entered right into a securities buy settlement with a single institutional investor to buy 6,717,000 shares of frequent inventory (or pre-funded warrants in lieu thereof) in a registered direct providing priced above market below Nasdaq guidelines. In a concurrent personal placement, the Firm additionally agreed to subject unregistered warrants to buy as much as an combination of 6,717,000 shares of frequent inventory. The mixed efficient providing worth for every share of frequent inventory (or pre-funded warrant in lieu thereof) and accompanying warrants is $1.03. The warrants could have an train worth of $1.03 per share, can 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 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 placement agent in reference to the providing.
The shares of frequent inventory (or pre-funded warrants in lieu thereof) are being provided pursuant to a shelf registration assertion on Type S-3 (File No. 333-266991), which was declared efficient by the U.S. Securities and Change Fee (the SEC) on August 26, 2022. The providing of shares of frequent inventory (or pre-funded warrants in lieu thereof) can 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 provided in a personal placement below Part 4(a)(2) of the Securities Act of 1933, as amended (the Act), and Regulation D promulgated thereunder and haven’t been registered below 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 provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of such jurisdiction. A prospectus complement regarding the shares of frequent inventory and pre-funded warrants can be filed by the Firm with the SEC. When accessible, copies of the prospectus complement regarding the registered direct providing, along with the accompanying prospectus, may 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 creating novel immunotherapies to elongate healthspan by disrupting the hyperlink between power, low-grade irritation, and age-related illnesses, comparable to most cancers, cardiovascular, diabetes, neurodegenerative, and autoimmune illnesses, in addition to different inflammatory situations comparable 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 completely 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 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 are topic to substantial dangers and uncertainties. These statements are made below the secure harbor provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Ahead-looking statements contained on this press launch could also be recognized by way of phrases comparable to anticipate, anticipate, consider, will, might, ought to, estimate, mission, 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 potential to develop new immunotherapeutic therapies for non-oncology or oncology indications; the capabilities of the Firm’s new platform and the effectiveness of latest 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 are 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 might trigger precise outcomes to vary embody, however should not restricted to, the dangers and uncertainties which are described within the part titled Threat Components within the annual report on Type 10-Ok/A filed with the USA Securities and Change Fee (the SEC) on Could 15, 2024, the most recent Type 10-Q filed with the SEC on November 14, 2024, and in different filings filed on occasion 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 data besides as required below relevant legislation.
Firm Contact:
Rebecca Byam
Chief Monetary Officer
HCW Biologics Inc.
RebeccaByam@hcwbiologics.com
Supply: HCW Biologics, Inc
