HCW Biologics prices $6.9M registered direct offering at $1.03 per share

HCW Biologics (HCWB) “announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 6,717,000 shares of common stock in a registered direct offering priced above market under Nasdaq rules. In a concurrent private placement, the Company also agreed to issue unregistered warrants to purchase up to an aggregate of 6,717,000 shares of common stock. The combined effective offering price for each share of common stock and accompanying warrants is $1.03. The warrants will have an exercise price of $1.03 per share, will be exercisable immediately, and expire on the five year anniversary from the date of issuance.”