Surrozen closes $95.1M second tranche at $11.60/share; cash runway extended into 2029

Surrozen, Inc./DE

Gross proceeds of ~$95.1M: 5,741,605 shares at $11.60, 2,456,500 pre-funded warrants at $11.5999, and Series E warrants for 4,099,052 shares at $11.54 strike.
Second closing milestone triggered by FDA clearance of the SZN-8141 IND on October 2, 2026, under the March 24, 2025 securities purchase agreement.
Post-closing capitalization: ~17.8M common shares outstanding, 3.8M issuable on pre-funded warrants, 9.1M on common warrants (mostly $11.54 strike, expiring 2029-2031).
Cash, equivalents and marketable securities expected to fund runway into 2029, including the DUET Phase 1b/2a study of SZN-8141 and initial Phase 1b development of SZN-8143.
Must file a resale S-3 within 30 days of closing and seek effectiveness within 90 days (120 if full SEC review).

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