S-1/A 1 d937560ds1a.htm S-1/A S-1/A

As filed with the U.S. Securities and Exchange Commission on May 13, 2025

Registration No. 333-287136

 

 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, D.C. 20549

 

 

Pre-Effective Amendment No. 1

to

FORM S-1

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

HCW BIOLOGICS INC.

(Exact name of Registrant as specified in its charter)

 

 

 

 

Delaware   2834   82-5024477
(State or Other Jurisdiction of
Incorporation or Organization)		   Primary Standard Industrial
Classification Code Number		  

(I.R.S. Employer

Identification Number)

2929 N Commerce Parkway

Miramar, FL 33025

(954) 842-2024

Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices

 

 

Hing C. Wong, Ph.D.

Chief Executive Officer

HCW Biologics Inc.

2929 N Commerce Parkway

Miramar, FL 33025

(954) 842-2024

Name, Address Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service

 

 

With a copy to:

 

James Groth

Clark Hill PLC

130 E. Randolph St., Ste. 3900

Chicago, IL 60601

(312) 985-5900

  

Randolf Katz

Clark Hill PLC

555 S. Flower St., 24 Floor

Los Angeles, CA 90071

(213) 891-9100

Barry I. Grossman, Esq.

Matthew Bernstein, Esq.

Justin Grossman, Esq.

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, New York 10105

Tel: (212) 370-1300

 

 

Approximate Date of Commencement of Proposed Sale to the Public: As soon as practicable after this registration statement becomes effective.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box.  ☑

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   ☐    Accelerated filer   ☐
Non-accelerated filer   ☑    Smaller reporting company   ☑
     Emerging growth company   ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.  ☐

 

 

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to Section 8(a) of the Securities Act, may determine.

 

 
 

EXPLANATORY NOTE

HCW Biologics Inc. is filing this Amendment No. 1 to its Registration Statement on Form S-1 (File No. 333-287136) as an exhibits-only filing. Accordingly, this Amendment consists only of the facing page, this explanatory note, Item 16(a) of Part II of the Registration Statement, the signature page to the Registration Statement and the filed exhibits. The remainder of the Registration Statement is unchanged and has therefore been omitted.

PART II

Item 16. Exhibits.

EXHIBIT INDEX

 

         Incorporated by reference     Filed or
furnished
herewith		  

Exhibit No.

   

Exhibit title

   Form     File No.     Exhibit No.     Filing date        
1.1    Form of Placement Agency Agreement*          
3.1    Amended and Restated Certificate of Incorporation*     8-K       001-40591       3.1       07/26/2021    
3.1a    Certificate of Amendment of Certificate of Incorporation, filed March 31, 2025.*     8-K       001-40591       3.1a       04/01/2025    
3.1b    Certificate of Correction of the Certificate of Amendment of Certificate of Incorporation, filed April 1, 2025.*     8-K       001-40591       3.1b       04/01/2025    
3.2    Amended and Restated Bylaws*     8-K       001-40591       3.2       07/26/2021    
4.1    Specimen Stock Certificate*     S-1/A       333-256510       4.1       07/09/2021    
4.2    Description of Securities*     10-K       001-40591       4.2       03/29/2022    
4.3    Form of Common Stock Purchase Warrant between the Company and Holder*     8-K       001-40591       4.1       11/20/2024    
4.4    Form of Pre-Funded Common Stock Purchase Warrant between the Company and Holder*     8-K       001-40591       4.2       11/20/2024    
4.5    Form of Pre-Funded Common Stock Purchase Warrant*          
4.6    Form of Common Stock Purchase Warrant*          
4.7    Form of Warrant Agency Agreement*          
5.1    Opinion of Clark Hill PLC             X  
10.1    Form of Indemnification Agreement between HCW Biologics Inc. and each of its officers and directors.*     S-1/A       333-256510       10.1       07/09/2021    
10.2+    2019 Equity Incentive Plan, as amended, and forms of agreement thereunder.*     S-1       333-256510       10.2       07/09/2021    
10.3+    First Amendment to 2019 Equity Incentive Plan.*     S-1       333-256510       10.3       07/09/2021    
10.4+    2021 Equity Incentive Plan and forms of agreement thereunder*     S-1       333-256510       10.4       07/09/2021    
10.5+    Employment Agreement, dated July 6, 2021, between Peter Rhode and HCW Biologics Inc.*     S-1       333-256510       10.6       07/09/2021    
10.6+    Employment Agreement, dated October 9, 2019, between Rebecca Byam and HCW Biologics Inc.     S-1       333-256510       10.7       07/09/2021    

        Incorporated by reference     Filed or
furnished
herewith		  

Exhibit No.

  

Exhibit title

   Form     File No.     Exhibit No.     Filing date        
10.7+   Non-Employee Director Compensation Policy.*     S-1       333-256510       10.8       07/09/2021    
10.8+   Employment Agreement, dated June 18, 2021, between Dr. Hing C. Wong and HCW Biologics Inc.*     S-1       333-256510       10.13       07/09/2021    
10.9+   Executive Incentive Bonus Plan*     S-1       333-256510       10.11       07/09/2021    
10.10†   Exclusive License Agreement, dated December 24, 2020, between HCW Biologics Inc. and Wugen, Inc.*     S-1       333-256510       10.10       07/09/2021    
10.11†   Master Services Agreement, dated March 14, 2019, between HCW Biologics Inc. and EirGenix, Inc.*     S-1       333-256510       10.12       07/09/2021    
10.12†#   Purchase and Sale Agreement, by and between HCW Biologics Inc. and Wai 3300 Corporate Way, LLC, dated May 27, 2022*     10-Q       001-40591       10.1       08/12/2022    
10.13   Capital on Demand Sales Agreement, dated August  19, 2022, by and between HCW Biologics Inc. and Jones Trading Institutional Services LLC*     S-3       333-266991       1.2       08/19/2022    
10.14   Loan Agreement by and between HCW Biologics Inc. and Cogent Bank, dated August 15, 2022*     10-Q       001-40591       10.1       11/07/2022    
10.15   Mortgage and Security Agreement by and between HCW Biologics Inc. and Cogent Bank, dated August 15, 2022*     10-Q       001-40591       10.2       11/07/2022    
10.16   Form of Subscription Agreement, dated February 20, 2024, by and between the Company and the Subscribers party thereto*     8-K       001-40591       10.1       02/22/2024    
10.17*†#   Form of Senior Secured Note Purchase Agreement, dated March 28, 2024, by and between the Company and the Purchaser party thereto*     10-K       001-40591       10.17       04/01/2024    
10.18*†#   Form of Senior Secured Promissory Note, dated March 28, 2024, by and between the Company and the Holder party thereof*     10-K       001-40591       10.18       04/01/2024    
10.19*†#   Form of Pledge Agreement, dated March 28, 2024, by and between the Company, Escrow Agent and Noteholder party thereto*     10-K       001-40591       10.19       04/01/2024    
10.20*†#   Form of Escrow Agreement, dated March 28, 2024, by and between the Company, Escrow Agent and Noteholder party thereto*     10-K       001-40591       10.20       04/01/2024    
10.21   Senior Secured Note Purchase Agreement, dated March 28, 2024, by and between the Company and the Purchaser party thereto*     10-Q       001-40591       10.1       05/15/2024    

         Incorporated by reference     Filed or
furnished
herewith		  

Exhibit No.

   

Exhibit title

   Form     File No.     Exhibit No.     Filing date        
10.22    Form of Subscription Agreement, dated February 20, 2024, by and between the Company and the Subscribers party thereto*     10-Q       001-40591       10.5       05/15/2024    
10.23    Form of Amended and Restated Senior Secured Note Purchase Agreement, dated July  2, 2024, by and between the Company and the Purchaser party thereto*     10-Q       001-40591       10.1       08/14/2024    
10.24    Form of Senior Secured Promissory Note by and between the Company and the Holder party thereof*     10-Q       001-40591       10.2       08/14/2024    
10.25    Form of Amended and Restated Pledge Agreement, dated July  2, 2024, by and among the Company, Escrow Agent and Noteholder parties thereto*     10-Q       001-40591       10.3       08/14/2024    
10.26    Form of Escrow Agreement, dated July 2, 2024, by and among the Company, Escrow Agent and Noteholder parties thereto*     10-Q       001-40591       10.4       08/14/2024    
10.27    Form of First Amendment to the Amended and Restated Senior Secured Note Purchase Agreement, dated September  30, 2024, by and between the Company and Purchaser parties thereto*     10-Q       001-40591       10.5       11/14/2024    
10.28    Settlement Agreement and Release, dated July  13, 2024, by and between the Company and Altor BioScience, LLC, NantCell, Inc., and ImmunityBio, Inc.*     10-Q       001-40591       10.6       11/14/2024    
10.29    Placement Agency Agreement, dated November 18, 2024, between the Company and Maxim Group LLC.*     8-K       001-40591       4.1       11/20/2024    
10.30    Securities Purchase Agreement, dated November 18, 2024, between the Company and Purchaser*     8-K       001-40591       4.1       11/20/2024    
10.31    Equity Purchase Agreement, dated February 20, 2025, between the Company and Square Gate Master Fund—Series 4.*     8-K       001-40591       10.1       02/21/2025    
10.32    Registration Rights Agreement, dated February 20, 2025, between the Company and Square Gate Master Fund—Series 4.*     8-K       001-40591       10.2       02/21/2025    
10.33    Second Amendment to Amended and Restated Senior Secured Note Purchase Agreement and Related Agreements dated as of May 1, 2025.          
10.34    Form of Unsecured Convertible Promissory Note dated May 5, 2025 by and between the Company and the Holder party thereto.*          

         Incorporated by reference     Filed or
furnished
herewith		  

Exhibit No.

   

Exhibit title

   Form     File No.     Exhibit No.     Filing date        
10.35    Form of Securities Purchase Agreement*          
10.36    Form of Lock-Up Agreement*          
23.1a    Consent of Independent Registered Public Accounting Firm (Grant Thornton, Predecessor)*          
23.1b    Consent of Independent Registered Public Accounting Firm (Crowe Successor)*          
23.2    Opinion of Clark Hill PLC (included in Exhibit 5.1)             X  
97.1    HCW Biologics Inc. Compensation Recovery Policy*     10-K       001-40591       97.1       04/01/2024    
99.1    Audit Committee Charter of the Registrant*          
99.2    Compensation Committee Charter of the Registrant*          
99.3    HCW Biologics Inc. Related Party Transaction Policy*          
107    Filing Fees*          

 

*

Previously filed

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement on Form S-1 to be signed on its behalf by the undersigned, in the city of Miramar, State of Florida, on May 13, 2025.

 

 

HCW BIOLOGICS INC.

By:   /s/ Hing C. Wong
Name:   Hing C. Wong
Title:   Founder & Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1933, the registrant has duly caused this registration statement on Form S-1 to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Signature

   

Title

  

Date

/s/ Scott T. Garrett

Scott T. Garrett

   

Chairman of the Board of Directors

   May 13, 2025

/s/ Rebecca Byam

Rebecca Byam

   

Chief Financial Officer

   May 13, 2025

/s/ Hing C. Wong

Hing C. Wong

   

Chief Executive Officer

   May 13, 2025

/s/ Rick S. Greene

Rick S. Greene

   

Director

   May 13, 2025

/s/ Lisa M. Giles

Lisa M. Giles

   

Director

   May 13, 2025

/s/ Gary M. Winer

Gary M. Winer

   

Director

   May 13, 2025

 

By:   /s/ Hing C. Wong
  Hing C. Wong, Attorney-in-Fact