Hcw Biologics INC. 8-K Filing

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share HCWB The Nasdaq Stock Mar
• $2.5 million — le"), which requires the maintenance of $2.5 million in stockholders' equity for continued l
• $2.66 — res of common stock ("Common Stock") to $2.66 per share. In consideration therefor, t
• $2.41 — of Common Stock at an exercise price of $2.41 per share. Net proceeds from the warran
• $3.8 m — ement transaction totaled approximately $3.8 million, and a corresponding increase to
• $363,858 — ulted in net proceeds to the Company of $363,858, and a corresponding increase to stockh
• $7.4 million — ent agreement relating to approximately $7.4 million of outstanding legal fees included in t
• $2.0 million — es. The terms of the settlement include $2.0 million of cash settlement payments, consisting
• $500,000 — sh settlement payments, consisting of a $500,000 payment on or before December 31, 2025
• $1.5 million — r 31, 2025 (which has been paid), and a $1.5 million payment to be made within one business
• $5.4 million — o stockholders' equity of approximately $5.4 million as of December 31, 2025, due to the sat

Filing Documents

• hcwb-20251230.htm (8-K) — 45KB
• 0001193125-25-338026.txt ( ) — 149KB
• hcwb-20251230.xsd (EX-101.SCH) — 24KB
• hcwb-20251230_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events. As previously disclosed, on August 19, 2025, HCW Biologics Inc. (the "Company" or "HCW Biologics") was notified by the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1) (the "Equity Rule"), which requires the maintenance of $2.5 million in stockholders' equity for continued listing on The Nasdaq Capital Market. The Company thereafter requested a hearing before the Nasdaq Hearings Panel (the "Panel") to address the deficiency, which was held on September 25, 2025. By decision dated October 13, 2025, the Panel granted the Company an extension through December 31, 2025, to evidence compliance with the Equity Rule, and through February 17, 2026, to evidence the Company's continued compliance with all applicable criteria for continued listing on The Nasdaq Capital Market. February 17, 2026, constitutes the full extent of the Panel's discretion in this matter. Since the issuance of the Panel's decision, the Company has completed certain transactions that the Company believes have served to increase the Company's stockholders' equity balance. First, on November 19, 2025, the Company completed a warrant inducement transaction, pursuant to which the Company reduced the exercise price of certain existing warrants to purchase 1,510,205 shares of common stock ("Common Stock") to $2.66 per share. In consideration therefor, the warrant holders exercised such warrants and the Company issued new warrants to such holders, which may be exercised for up to 3,020,410 shares of Common Stock at an exercise price of $2.41 per share. Net proceeds from the warrant inducement transaction totaled approximately $3.8 million, and a corresponding increase to stockholders' equity. Second, during the fourth quarter of 2025, the Company issued shares of Common Stock under its Standby Equity Line of Credit, which resulted in net proceeds to the Company of $363

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HCW BIOLOGICS INC. Date: December 31, 2025 By: /s/ Hing C. Wong Hing C. Wong, Founder and Chief Executive Officer

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