Therapeutics company Surrozen and Consonance-HFW Acquisition today announced a definitive business combination agreement.
Terms call for consideration of $212 million, including $120 million from a committed PIPE and $92 million cash in trust from Consonance-HFW.
Surrozen stockholders and holders of Surrozen equity awards are converting 100 percent of their existing interests into shares or equivalent awards of New Surrozen at an implied equity value of $200 million. Assuming a share price of $10, New Surrozen is expected to have an initial equity value of approximately $432 million.
The new enterprise will be named Surrozen and list on the Nasdaq under SRZN.
Surrozen is engaged in antibody-based approaches to aid in tissue repair and regeneration across a broad range of diseases. Read more.
