Surrozen IncDE

Previous wording

In April 2024, we entered into a securities purchase agreement with certain institutional investors and management and issued and sold in a private placement: (i) 1,091,981 shares of common stock, (ii) pre-funded warrants to purchase up to 40,000 shares of common stock, and (iii) warrants to purchase up to 11,136,106 shares of common stock. A significant portion of these warrants may only be exercised in the event we meet certain clinical development milestones. If we achieve these milestones and the warrants are exercised, it will result in significant dilution to our stockholders. In the alternative, we may not achieve these milestones, in which event we will be required to seek alternative sources of financing to continue the clinical development of our product candidates. Please see note 12 to the unaudited condensed consolidated financial statements for further information regarding the private placement and the terms of the warrants. In addition, outstanding options may be exercised and restricted stock units may vest resulting in the issuance of additional shares of common stock, which will result in further dilution to our stockholders.

Current wording

In April 2024, we entered into a securities purchase agreement with certain institutional investors and management and issued and sold in a private placement: (i) 1,091,981 shares of common stock, (ii) pre-funded warrants to purchase up to 40,000 shares of common stock, and (iii) warrants to purchase up to 11,136,106 shares of common stock. A significant portion of these warrants may only be exercised in the event we meet certain clinical development milestones, which include patient enrollment. If we achieve these milestones and the warrants are exercised, it will result in significant dilution to our stockholders. In the alternative, we may not achieve these milestones, in which event we will be required to seek alternative sources of financing to continue the clinical development of our product candidates. Please see Notes 9, 10 and 11 to the unaudited condensed consolidated financial statements for further information regarding the private placement and the terms of the warrants. In addition, outstanding options may be exercised and restricted stock units may vest resulting in the issuance of additional shares of common stock, which will result in further dilution to our stockholders.

Previous wording

A few stockholders, including one of our directors, control the voting rights with respect to a large number of shares of our common stock and could exercise their voting power in a manner that adversely affects us or our stockholders.

Current wording

A few stockholders, including one of our former directors, control the voting rights with respect to a large number of shares of our common stock and could exercise their voting power in a manner that adversely affects us or our stockholders.

Previous wording

As of March 31, 2024, The Column Group (managed by one of our directors, Tim Kutzkey, Ph.D.) holds approximately 30% of our common stock and can significantly influence any matter requiring approval by our stockholders, including the election of directors and the approval of mergers or other business combinations.

Current wording

As of June 30, 2024, The Column Group (managed by one of our former directors, Tim Kutzkey, Ph.D.) holds approximately 25% of our common stock and can significantly influence any matter requiring approval by our stockholders, including the election of directors and the approval of mergers or other business combinations. Dr. Kutzkey resigned from our board of directors and all committees of the board of directors on which he served, effective as of June 30, 2024.