HCW Biologics (HCWB) said Wednesday it has priced an offering of 618,682 units to a group of investors, including officers, directors and an existing stockholder, to raise $1.6 million.
Each unit consists of one share, or, in lieu thereof, one pre-funded warrant to buy one share, and the right to receive one warrant to purchase one share, the firm said. The price for each unit with one share and the right for one warrant was $2.585 per unit.
HCW said it plans to use the net proceeds for clinical trials and for general corporate purposes.
Price: $2.44, Change: $-0.15, Percent Change: -5.61%