July 29, 2026 · Form 4 insider transaction
Flowers Lee bought 7,736 shares of HCW Biologics Inc. at $2.58 per share, a transaction worth $20.0K. The trade was recorded as open-market purchase and disclosed on an SEC Form 4, filed 2 days after the transaction.
The reporting person purchased these shares directly from the issuer in a private placement under a Securities Purchase Agreement dated July 29, 2026 ("SPA"), which purchase is exempt from the registration requirements of Section 5 of the Securities Exchange Act of 1934, as amended, pursuant to Section 4(a)(2) thereof and/or Rule 506(b) of Regulation D thereunder. Additionally, the reporting person is entitled to receive common warrants exercisable for an aggregate of up to 7,736 shares of common stock. Under the terms of the SPA, issuance of the common warrants is subject to stockholder approval under Nasdaq Listing Rule 5635(d). Upon issuance, the common warrants will be exercisable immediately and expire 5.5 years from date of issuance.