HCW Biologics prices USD 1.6 million private placement at USD 2.59 per unit
HCWB•Private placement terms
HCW Biologics said it priced a USD 1.6 million private placement of 618,682 units at USD 2.58 per unit.
The deal includes 218,682 common shares, 400,000 pre-funded warrants, and common warrants for up to 618,682 shares pending stockholder approval.
The pre-funded warrants are immediately exercisable at USD 0.0001. The common warrants have a USD 2.58 strike price and a 5.5-year term.
Use of proceeds and registration plan
The company said proceeds will be used for HCW9302 clinical trials, IND-enabling work, and general corporate purposes.
HCW Biologics plans to file a Form S-1 within 15 trading days to register the resale of shares and warrant shares.
