HCW Biologics approves 1-for-40 reverse stock split

HCW Biologics (HCWB) announced that its Board of Directors has approved a 1-for-40 reverse stock split of the Company’s common stock, par value $0.01c, which will be effective at 12:01 a.m. Eastern Time on April 11. The Company’s Common Stock will be traded on The Nasdaq Capital Market on a reverse split-adjusted basis beginning on April 11, under the Company’s existing trading symbol “HCWB.” The reverse stock split is intended to regain compliance with the minimum bid price requirement of $1.00 per share of the Company’s Common Stock for continued listing on The Nasdaq Capital Market. The new CUSIP number following the reverse stock split will be 40423R204. The Company filed the relevant amendments to its Certificate of Incorporation with the Delaware Secretary of State on March 31, and April 1, to effect the reverse split. Equiniti Trust Company, the Company’s transfer agent, will act as the exchange agent for the reverse stock split.