Orrick is advising HCW Biologics on its $56 million initial public offering of 7 million shares of common stock. The offering priced at $8 per share and began trading today on the Nasdaq Global Market under the ticker symbol “HCWB.”
In addition, HCW Biologics has granted the underwriters a 45-day option to purchase up to an additional 1,050,000 shares at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about July 22, 2021, subject to customary closing conditions.
EF Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager for the offering. Revere Securities LLC is acting as co-manager for the offering.
The Orrick team was led by Scott Iyama and Bill Hughes and includes Jaryn Fields, Vinella Sido, Andrew Allen, Jason Flaherty, Karen Canon, Aubrey Refuerzo, Kevin Kearney, Jessica Kim, Valerie Guillard Hein and Ewa Mykytyn.