HCW Biologics Inc. priced a $1.6 million private placement. The placement includes company executives, directors, and an existing stockholder among its investors.
The offering comprises 618,682 units. Each unit is priced at approximately $2.585.
Each unit includes one share of common stock or a pre-funded warrant. It also grants a right to receive one common stock purchase warrant. This warrant is subject to shareholder approval.
Founder and CEO Hing C. Wong participated in the offering. Chairman of the Board Scott Garrett also participated. Another senior officer joined them.
HCW Biologics will use the net proceeds to advance its clinical trial for HCW9302. Proceeds will also support studies for two other drug candidates. The company will also allocate funds for general corporate purposes.
The offering was expected to close on or about July 29, 2026.