TCG Crossover Fund II, L.P. 4

What Happened

• TCG Crossover GP II, LLC (a reported 10% owner) made a series of open-market purchases of Surrozen, Inc. (SRZN) common stock between March 12 and March 16, 2026. The group acquired a total of 48,997 shares at prices of $24.88–$24.99 per share, for an aggregate cost of approximately $1,220,361. These were purchases (acquisitions), which are generally viewed as more informative than sales.

Key Details

• Transaction dates & breakdown:
  • Mar 12, 2026: 6,187 shares @ $24.99 ($154,583) and another 6,187 shares @ $24.99 ($154,583) — total 12,374 shares ($309,166).
  • Mar 13, 2026: 17,717 shares @ $24.88 ($440,744) and 17,716 shares @ $24.88 ($440,719) — total 35,433 shares ($881,463).
  • Mar 16, 2026: 595 shares @ $24.99 ($14,866) and another 595 shares @ $24.99 ($14,866) — total 1,190 shares ($29,732).
• Total acquired: 48,997 shares for ~$1.22M.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1/F2 indicate these securities are held of record by TCG Crossover Fund II, L.P. and TCG Crossover Fund III, L.P., respectively; TCG Crossover GP II/III are the funds’ general partners and Chen Yu is the sole managing member who may be deemed to share voting, investment and dispositive power.
• Filing timeliness: Report lists a Period of Report of Mar 12, 2026 and was filed Mar 16, 2026; this filing appears to be timely under Form 4 reporting rules.

Context

• This filing reports straightforward open-market purchases by an institutional 10% owner (via its GP), not an executive salary/option exercise or a gift. Institutional purchases can indicate increased stake-building but do not by themselves explain motivation or future company prospects.