HCW Biologics prices $1.5 million private placement at $1.6599 per unit
HCWB•HCW Biologics priced a $1.5 million private placement with an existing stockholder, covering 903,614 units at $1.6599 each. Proceeds are earmarked for HCW9302 trials, selected pipeline development and general corporate purposes.
1. Placement terms
Each unit includes a pre-funded warrant that is immediately exercisable at $0.0001 per share. Subject to stockholder approval, the investor will also receive a common warrant to purchase up to 903,614 shares at $1.66.
2. Use of proceeds
HCW Biologics said it plans to use the proceeds for HCW9302 trials, selected pipeline development and general corporate purposes.
