Consonance-HFW Acquisition in an 8-K filing said its stockholders voted in favor of its proposed merger with biotechnology company Surrozen. Approximately 98% of the votes cast were in support of the deal, according to the 8-K.
Trading in the combined company is expected to begin tomorrow on the Nasdaq under new ticker SRZN for stock and SRZNW for warrants.
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.
Surrozen is engaged in antibody-based approaches to aid in tissue repair and regeneration across a broad range of diseases. Read more.
