Surrozen Announces Closing of Second Tranche of March 2025 Private Placement for $95.1 Million
Surrozen closed the second and final tranche of its March 2025 private placement, generating approximately $95.1 million in gross proceeds. The closing was triggered by FDA clearance of the IND for SZN-8141 on October 2, 2026, and the company now expects cash runway into 2029, funding the DUET Phase 1b/2a study of SZN-8141 and initial Phase 1b development of SZN-8143. The tranche included ~5.7 million shares, pre-funded warrants on ~2.5 million shares, and Series E warrants on ~4.1 million shares at an $11.54 exercise price — substantial dilution against only ~17.8 million shares outstanding post-closing.
Key figures
- Deal Value Usd
- 95100000
- Offering Price
- 11.54
- Shares Offered
- 5700000
- Cash runway
- into 2029
- Pipeline candidates
- ["SZN-8141","SZN-8143"]
- Series e warrant shares
- 4100000
- Shares outstanding post
- 17800000
- Prefunded warrant shares
- 2500000
AI analysis
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