Filing Summary
Business Context and Reporting Period
This Form 8-K was filed by Consonance-HFW Acquisition Corp. on November 30, 2020, reporting events occurring on November 23, 2020. Although the request identifies Surrozen, Inc., the filing’s registrant is Consonance-HFW Acquisition Corp., a Cayman Islands special purpose acquisition company.
Key Financial and Capitalization Metrics
- The company completed an initial public offering of 8,000,000 units at $10.00 per unit.
- The sponsor purchased 410,000 private placement units at $10.00 per unit.
- Each unit consisted of one Class A ordinary share and one-third of a redeemable warrant.
- Each whole warrant entitles its holder to purchase one Class A ordinary share at $11.50 per share, subject to adjustment.
- Net proceeds from the IPO and certain private placement proceeds totaled $80.0 million and were deposited in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A.
- The filing does not provide revenue, operating profit, net income, cash flow, margins, debt, or broader liquidity metrics beyond the trust-account proceeds.
Material Changes Versus the Prior Comparable Period
The material event was the consummation of the IPO and private placement, resulting in the deposit of $80.0 million of offering proceeds into the trust account. The filing does not provide a prior-period financial comparison.
Guidance, Outlook, Risks, and Unusual Items
The filing does not provide operating guidance, management outlook, acquisition targets, or detailed risk commentary. The proceeds are held in trust for the benefit of public shareholders and IPO underwriters. The audited balance sheet as of November 23, 2020 is included as Exhibit 99.1.
Investor Verification Items
- Verify the audited November 23, 2020 balance sheet and the precise composition of the $80.0 million trust-account balance.
- Confirm the number of public and private units, shares, and warrants outstanding after the offering.
- Review the warrant adjustment provisions and $11.50 exercise price.
- Confirm the company’s subsequent acquisition strategy, redemption terms, deadlines, and any later transaction with Surrozen, Inc.