HCW Biologics Inc. announced that its Board of Directors approved a 1-for-40 reverse stock split of the company's common stock. The reverse stock split is scheduled to be effective at 12:01 a.m. Eastern Time on April 11, 2025.
The primary purpose of this corporate action is to regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market. The company's common stock will begin trading on a reverse split-adjusted basis on April 11, 2025, under its existing symbol 'HCWB'.
The reverse stock split will uniformly affect all stockholders, reducing the number of issued and outstanding shares from 44,934,120 to approximately 1,123,353. No fractional shares will be issued; stockholders entitled to a fraction will receive one whole share.
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