Loan & DebtNov 5, 2026, 09:12 AM
HCW Biologics Secures $10M Debt Financing
AI Summary
HCW Biologics Inc. has entered into a Notes Purchase Agreement with Streeterville Capital, LLC, securing up to $10.0 million in debt financing. The agreement provides for two secured promissory notes: a $3.2 million Note A-1 and a $7.0 million Note B. The company received $3.0 million at closing and has access to the remaining $7.0 million under certain conditions. The funds are intended to support clinical development programs, business development initiatives, and general corporate purposes. The notes carry annual interest rates of 8% and 5% respectively, with 24-month maturities and prepayment penalties. The B Note is secured by a deposit account held by a subsidiary.
Key Highlights
- HCW Biologics Inc. secured up to $10.0 million in cash through a debt financing agreement with Streeterville Capital, LLC.
- The financing includes a $3.2 million Promissory Note A-1 and a $7.0 million Promissory Note B.
- The Company received $3.0 million at closing, with $7.0 million available subject to certain conditions.
- Net proceeds will fund clinical development programs, strategic business initiatives, and general corporate purposes.
- The A-1 Note accrues 8% annual interest and matures in 24 months, with a 10% prepayment premium.
- The B Note accrues 5% annual interest and matures in 24 months, also with a 10% prepayment premium.
- The B Note is secured by cash in a deposit account held by a subsidiary, HCWB Holdings, LLC.
Price Impact
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