Surrozen raises $17.5M in private placement with milestone-triggered warrants

Surrozen, Inc./DE

Issues 1,089,033 shares at $15.50 and pre-funded warrants for 40,000 shares at $15.4999.
Management purchases 2,948 shares at $16.96; total gross proceeds ~$17.5M.
Series A warrants: 1,129,033 shares at $15.50, exercisable for 5 years.
Series B warrants: 1,228,071 shares at $14.25; exercisable after 15-patient enrollment milestone in SZN-043 trial.
Series C/D warrants: each up to 4,375,000 shares at $16.00, exercisable after Phase 1b data or ≥50 patient enrollment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Surrozen, Inc./DE entered into Securities Purchase Agreement with certain institutional investors and management valued at aggregate gross proceeds of approximately $17.5 million (effective 2024-04-01).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors and management
Value: aggregate gross proceeds of approximately $17.5 million
Effective: 2024-04-01

Exact text from the filing

On April 1, 2024, Surrozen, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”), with certain institutional investors (the “Investors”) and management (together with the Investors, the “Purchasers”)

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290 material agreements filed in the last 30 days. Browse all material agreements →

Surrozen, Inc./DE filing history →

Source: SEC EDGAR

accession 0000950170-24-040337

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