HCW Biologics prices $1.5M private placement with existing investor

HCW Biologics Inc. (NASDAQ: HCWB) announced the pricing of a $1.5 million private placement with an existing stockholder, according to a press release issued Sept. 24, 2026.

Under a securities purchase agreement signed Sept. 23, 2026, the Miramar, Fla.-based company agreed to issue and sell 903,614 units at a combined purchase price of $1.6599 per unit. Each unit consists of one pre-funded warrant to purchase one share of common stock and the right to receive one common stock purchase warrant, subject to stockholder approval.

The pre-funded warrants carry an exercise price of $0.0001 per share, are immediately exercisable, and do not expire until exercised in full. The common warrants, once approved by stockholders, will have an exercise price of $1.66 per share and will expire 5.5 years after issuance. Under Nasdaq Listing Rule 5635(d), stockholder approval is required before the common warrants can be issued.

The company said it intends to use net proceeds to continue clinical trials for HCW9302, advance IND-enabling studies for its T-cell engager HCW11-018b and its second-generation immune checkpoint inhibitor HCW11-040, and for general corporate purposes.

HCW Biologics also entered into a registration rights agreement on Sept. 23, 2026, committing to file a Form S-1 registration statement with the U.S. Securities and Exchange Commission within 15 trading days of closing, covering resale of shares issuable upon exercise of both warrant types. The company agreed to seek SEC effectiveness of the registration statement within 60 days of closing.

The investor's total ownership of the company's common stock is capped at 9.99% following the issuance. Maxim Group LLC is acting as sole placement agent for the offering.

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