Medmira Capital Ltd. - 22 Jul 2021 Form 4 Insider Report for HCW Biologics Inc. (HCWB)

Role: 10%+ Owner
Signature: /s/ Hing C. Wong, as Attorney-in-Fact.
Issuer symbol: HCWB
Transactions as of: 22 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 23 Jul 2021, 19:32:57 UTC
Previous filing: 19 Jul 2021
Next filing: 17 Sep 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCWB	Common Stock	Conversion of derivative security	$0	+2,857,142		$0.000000	2,857,142	22 Jul 2021	Direct
transaction	HCWB	Common Stock	Conversion of derivative security	$0	+730,519	+26%	$0.000000	3,587,661	22 Jul 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HCWB	Series B Redeemable Preferred Stock	Conversion of derivative security	$0	-2,857,142	-100%	$0.000000^*	0	22 Jul 2021	Common Stock	2,857,142		Direct	F1
transaction	HCWB	Series C Redeemable Preferred Stock	Conversion of derivative security	$0	-730,519	-100%	$0.000000^*	0	22 Jul 2021	Common Stock	730,519		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of the Series B Redeemable Convertible Preferred Stock automatically converted into one share of the Issuer's Common Stock, for no additional consideration at the completion of the Issuer's initial public offering. The Redeemable Convertible Preferred Stock had no expiration date.
F2	Each share of the Series C Redeemable Convertible Preferred Stock automatically converted into one share of the Issuer's Common Stock, for no additional consideration at the completion of the Issuer's initial public offering. The Redeemable Convertible Preferred Stock had no expiration date.