Mitchell Blutt - Aug 11, 2021 Form 4 Insider Report for Surrozen, Inc./DE (SRZN)

Role
10%+ Owner
Signature
CONSONANCE CAPITAL MANAGEMENT LP, By: Consonance Capman GP LLC, its general partner, Name: /s/ Mitchell J. Blutt, M.D., Title: Manager and Member
Stock symbol
SRZN
Transactions as of
Aug 11, 2021
Transactions value $
$0
Form type
4
Date filed
8/13/2021, 07:26 PM
Previous filing
May 19, 2021
Next filing
Dec 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRZN Class A Ordinary Shares Disposed to Issuer -500K -100% 0 Aug 11, 2021 By Consonance Capital Master Account LP F1, F2, F5, F6
transaction SRZN Common Stock Award +500K 500K Aug 11, 2021 By Consonance Capital Master Account LP F1, F2, F5, F6
transaction SRZN Class A Ordinary Shares Disposed to Issuer -371K -100% 0 Aug 11, 2021 By Consonance Capital Opportunity Master Fund, LP F1, F2, F7, F8
transaction SRZN Common Stock Award +371K 371K Aug 11, 2021 By Consonance Capital Opportunity Master Fund, LP F1, F2, F7, F8
transaction SRZN Class A Ordinary Shares Disposed to Issuer -129K -100% 0 Aug 11, 2021 By Managed Account F1, F2, F9
transaction SRZN Common Stock Award +129K 129K Aug 11, 2021 By Managed Account F1, F2, F9
transaction SRZN Common Stock Award +1.25M +249.75% 1.75M Aug 11, 2021 By Consonance Capital Master Account LP F3, F4, F5, F6
transaction SRZN Common Stock Award +927K +249.75% 1.3M Aug 11, 2021 By Consonance Capital Opportunity Master Fund, LP F3, F4, F7, F8
transaction SRZN Common Stock Award +322K +249.75% 451K Aug 11, 2021 By Managed Account F3, F4, F9
holding SRZN Common Stock 1.89M Aug 11, 2021 By Consonance Life Sciences, LLC F11

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 SRZN Warrants (right to buy) Purchase +167K 167K Aug 11, 2021 Common Stock 167K $11.50 By Consonance Capital Master Account LP F5, F6, F10
transaction SRZN Warrants (right to buy) Purchase +124K 124K Aug 11, 2021 Common Stock 124K $11.50 By Consonance Capital Opportunity Master Fund, LP F7, F8, F10
transaction SRZN Warrants (right to buy) Purchase +43K 43K Aug 11, 2021 Common Stock 43K $11.50 By Managed Account F9, F10
transaction SRZN Warrants (right to buy) Award +416K +249.75% 583K Aug 11, 2021 Common Stock 417K $11.50 By Consonance Capital Master Account LP F3, F4, F5, F6, F10
transaction SRZN Warrants (right to buy) Award +309K +249.75% 433K Aug 11, 2021 Common Stock 309K $11.50 By Consonance Capital Opportunity Master Fund, LP F3, F4, F7, F8, F10
transaction SRZN Warrants (right to buy) Award +107K +249.75% 150K Aug 11, 2021 Common Stock 107K $11.50 By Managed Account F3, F4, F9, F10
holding SRZN Warrants (right to buy) 145K Aug 11, 2021 Common Stock 145K $11.50 By Consonance Life Sciences, LLC F11, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 15, 2021, Consonance-HFW Acquisition Corp. (the "Issuer") entered into a Business Combination Agreement (the "Business Combination Agreement"), by and among the Issuer, Perseverance Merger Sub Inc. ("Merger Sub"), and Surrozen, Inc. ("Surrozen"). The Business Combination (as defined below) pursuant to the Business Combination Agreement closed on August 11, 2021. Pursuant to the terms of the Business Combination Agreement, on the closing date: (i) the Issuer became a Delaware corporation (the "Domestication") and, in connection with the Domestication, (A) the Issuer's name changed to "Surrozen, Inc.", (B) each outstanding Class A Ordinary Share of the Issuer ("Class A Share") and each outstanding Class B Ordinary Share of the Issuer became one share of common stock of Issuer (the "Common Stock") in transactions exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
F2 (Continued from footnote 1) pursuant to Rule 16b-3 and Rule 16b-7 under the Exchange Act, and (C) each outstanding warrant of the Issuer became one warrant to purchase one share of Common Stock; and (ii) following the Domestication, Merger Sub merged with and into Surrozen, with Surrozen as the surviving company in the merger and, after giving effect to such merger, continuing as a wholly-owned subsidiary of Issuer (the "Merger"). The Domestication, the Merger and the other transactions contemplated by the Business Combination Agreement are hereinafter referred to as the "Business Combination".
F3 Pursuant to Subscription Agreements (the "Subscription Agreements") entered into in connection with the Business Combination Agreement, Consonance Capital Management LP ("Consonance Management") on behalf of the Consonance Investors (as defined below) agreed to subscribe for and purchase, substantially concurrently with the closing of the Business Combination, an aggregate of 2,497,500 units of the Issuer, each consisting of one share of Common Stock and one-third of one redeemable warrant for one share of Common Stock (the "PIPE Warrants"), for a purchase price of $10.00 per unit. Each whole PIPE Warrant entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment, and only whole PIPE Warrants will be exercisable.
F4 (Continued from footnote 3) The PIPE Warrants have substantially the same provisions as the warrants issued in connection with the Issuer's initial public offering. The transactions pursuant to the Subscription Agreement closed on August 11, 2021.
F5 Consonance Management is an indirect beneficial owner of the securities reported herein held by Consonance Capital Master Account, LP (the "Master Account"). Consonance Management is the investment adviser of the Master Account, and pursuant to an investment advisory agreement, Consonance Management exercises voting and investment power over the securities of the Issuer held by the Master Account. Consonance Capman GP LLC ("Capman") is the general partner of Consonance Management.
F6 (Continued from footnote 5) Consonance Management receives an asset-based fee, but has no pecuniary interest. Mitchell Blutt is the manager and member of Capman and has a pecuniary interest in the securities held by the Master Account as the manager and member of the general partner of the Master Account and thereby is entitled to a portion of the profits allocation. Each of Dr. Blutt, Consonance Management and Capman disclaims beneficial ownership of such securities of the Issuer except to the extent of their pecuniary interest therein.
F7 Consonance Management is an indirect beneficial owner of the securities reported herein held by Consonance Capital Opportunity Master Fund, LP ("Consonance Opportunity Master"). Consonance Management is the investment adviser of Consonance Opportunity Master, and pursuant to an investment advisory agreement, Consonance Management exercises voting and investment power over the securities of the Issuer held by Consonance Opportunity Master. Capman is the general partner of Consonance Management. Consonance Management receives an asset-based fee, but has no pecuniary interest. Mitchell Blutt is the manager and member of Capman and has a pecuniary interest in the securities held by Consonance Opportunity Master as the manager and member of the general partner of Consonance Opportunity Master and thereby is entitled to a portion of the profits allocation.
F8 (Continued from footnote 7) Each of Dr. Blutt, Consonance Management and Capman disclaims beneficial ownership of such securities of the Issuer except to the extent of their pecuniary interest therein.
F9 Consonance Management is an indirect beneficial owner of the securities reported herein held by a certain managed account (the "Managed Account", and together with the Master Account and Consonance Opportunity Master, the "Consonance Investors"). Consonance Management is the investment adviser of the Managed Account and exercises voting and investment power over the securities of the Issuer held by the Managed Account. Capman is the general partner of Consonance Management. Consonance Management receives an asset-based fee, but has no pecuniary interest. Mitchell Blutt is the manager and member of Capman. Each of Dr. Blutt, Consonance Management and Capman disclaims beneficial ownership of such securities of the Issuer except to the extent of their pecuniary interest therein.
F10 Represents part of units of the Issuer purchased in the Issuer's initial public offering for $10 per unit. Each unit consisted of one Class A Share and one-third of one warrant ("Warrant"), with each whole Warrant entitling the holder to purchase one Class A Share at $11.50 per share. The Warrants will not become exercisable until the later of (a) 30 days after the completion of the Issuer's initial business combination or (b) 12 months from the closing of the Issuer's initial public offering. The Warrants will expire at 5:00 p.m., New York City time, five years after the completion of the Issuer's initial business combination or earlier upon redemption or liquidation.
F11 Consonance Life Sciences LLC ("Consonance Life Sciences") is governed by a board of managers consisting of Mitchell J. Blutt, Benny Soffer and Kevin Livingston. As such, Mitchell J. Blutt, Benny Soffer and Kevin Livingston may be deemed to have voting and investment discretion over the securities held by Consonance Life Sciences and may be deemed to have shared beneficial ownership of such securities. Each of Mitchell J. Blutt, Benny Soffer and Kevin Livingston disclaims beneficial ownership of the securities held by Consonance Life Sciences except to the extent of their pecuniary interest therein. The Master Fund, Consonance Opportunity and the Managed Account in the aggregate own the majority of the unit interests in Consonance Life Sciences.
F12 Represents part of units of the Issuer purchased for $10 per unit in private placement transactions in connection with the Issuer's initial public offering. Each unit consisted of one Class A Share and one-third of one warrant (a "Private Placement Warrant"), with each whole Private Placement Warrant entitling the holder to purchase one Class A Share at $11.50 per share. The Private Placement Warrants will not become exercisable until the later of (a) 30 days after the completion of the Issuer's initial business combination or (b) 12 months from the closing of the Issuer's initial public offering. The Private Placement Warrants will expire five years after the completion of the Issuer's initial business combination.