HCW Biologics Inc. has recently issued new shares of common stock as part of a Securities Purchase Agreement with Armistice Capital Master Fund Ltd. The agreement included pre-funded warrants allowing for the purchase of up to 513,140 shares at an exercise price of $0.0001 per share. As of late May, Armistice has exercised portions of these warrants, resulting in the issuance of 177,140 shares on May 15, 126,000 shares on May 22, and 71,000 shares on May 29. Following these transactions, Armistice retains the option to purchase an additional 139,000 shares.
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