Exhibit 99.1
New Surrozen to Trade on Nasdaq as “SRZN”
PRINCETON, N.J. – July 30, 2021 – Consonance-HFW Acquisition Corp. (NYSE American LLC: CHFW) (“CHFW”) today announced that, upon the Domestication and the consummation of its pending business combination (the “Business Combination”) with Surrozen, Inc. (“Surrozen”), New Surrozen Common Stock and New Surrozen Warrants (each as defined below) will be listed on The Nasdaq Global Select Market (“Nasdaq”).
Prior to the consummation of the Business Combination, CHFW will domesticate as a Delaware corporation and will change its name to “Surrozen, Inc.” (the “Domestication”). References to “New Surrozen” in this release refer to CHFW following the name change. In connection with the Domestication, (1) each of the then issued and outstanding CHFW Class A ordinary shares, par value $0.0001 per share (“CHFW Class A Ordinary Shares”), and each issued and outstanding CHFW Class B ordinary share, par value $0.0001 per share, will convert automatically, on a one-for-one basis, into a share of common stock, par value $0.0001 per share, of New Surrozen (“New Surrozen Common Stock”); (2) each of the then issued and outstanding whole warrants to purchase Class A ordinary shares of CHFW will automatically represent the right to purchase one share of New Surrozen Common Stock (“New Surrozen Warrants”) at an exercise price of $11.50 per share on the terms and conditions set forth in the warrant agreement, dated November 18, 2020, between CHFW and Continental Stock Transfer & Trust Company, as warrant agent (the “CHFW Warrant Agreement”); and (3) each of the then issued and outstanding units of CHFW that has not been previously separated into the underlying CHFW Class A Ordinary Shares and the underlying warrants of CHFW prior to the Domestication will be canceled and will entitle the holder thereof to one share of New Surrozen Common Stock and one-third of one warrant representing the right to purchase one share of New Surrozen Common Stock at an exercise price of $11.50 per share on the terms and subject to the conditions set forth in the CHFW Warrant Agreement.
Trading is expected to begin on Nasdaq on August 12, 2021, under the new ticker symbol “SRZN” for the New Surrozen Common Stock and “SRZNW” for the New Surrozen Warrants, following the consummation of the Business Combination, which is currently expected to occur on August 11, 2021, subject to final shareholder approval at CHFW’s extraordinary general meeting on August 10, 2021, and satisfaction of other customary closing conditions. Until the Domestication and transfer to Nasdaq is complete, the CHFW Class A Ordinary Shares, warrants, and units will continue to trade under the ticker symbols “CHFW,”“CHFW.W,” and “CHFW.U,” respectively, on the NYSE American LLC (“NYSE American”). The last day of trading on the NYSE American is expected to be on August 11, 2021.
No action is required by existing CHFW shareholders with respect to the ticker symbol or exchange listing change.
About Consonance-HFW Acquisition Corp.
Consonance-HFW Acquisition Corp. is a recently incorporated blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. It is led by Chairman Mitchell Blutt, M.D., Chief Executive Officer Gad Soffer, Chief Financial Officer Kevin Livingston and VP Business Development Joshua House.
About Surrozen
Surrozen is a biotechnology company discovering and developing drug candidates to selectively modulate the Wnt pathway. Surrozen is developing tissue-specific antibodies designed to engage the body’s existing biological repair mechanisms with potential application across multiple disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas and central nervous system. For more information, please visit www.surrozen.com.
