TCG Crossover funds boost Surrozen (SRZN) stake with open-market buys

Rhea-AI Filing Summary

Surrozen, Inc. reported open-market share purchases by affiliated TCG Crossover funds. On March 23–24, entities associated with TCG Crossover Fund II and Fund III bought a combined 121,881 shares of Surrozen common stock in multiple open-market transactions at prices around $24.90 and $24.69 per share.

The Form 4 shows these positions as indirect holdings, with the shares held of record by TCG Crossover Fund II, L.P. and TCG Crossover Fund III, L.P. After these buys, the reporting entities disclose indirect ownership levels between 683,218 and 736,554 shares across the noted positions, reinforcing their status as significant, greater-than-10% shareholders.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TCG Crossover GP II, LLC

(Last) (First) (Middle)

245 LYTTON AVE., SUITE 350

(Street)

PALO ALTO CALIFORNIA 94301

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Surrozen, Inc./DE [ SRZN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/23/2026		P		7,612	A	$24.8999	683,225	I	See footnote(1)
Common Stock	03/23/2026		P		7,611	A	$24.8999	683,218	I	See footnote(2)
Common Stock	03/24/2026		P		53,329	A	$24.6931	736,554	I	See footnote(1)
Common Stock	03/24/2026		P		53,329	A	$24.6931	736,547	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

TCG Crossover GP II, LLC

(Last) (First) (Middle)

245 LYTTON AVE., SUITE 350

(Street)

PALO ALTO CALIFORNIA 94301

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TCG Crossover Fund II, L.P.

(Last) (First) (Middle)

245 LYTTON AVE., SUITE 350

(Street)

PALO ALTO CALIFORNIA 94301

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TCG Crossover GP III, LLC

(Last) (First) (Middle)

245 LYTTON AVE., SUITE 350

(Street)

PALO ALTO CALIFORNIA 94301

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TCG Crossover Fund III, L.P.

(Last) (First) (Middle)

245 LYTTON AVE., SUITE 350

(Street)

PALO ALTO CALIFORNIA 94301

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. These securities are held of record by TCG Crossover Fund II, L.P. (TCG Crossover II). TCG Crossover GP II, LLC (TCG Crossover GP II) is the general partner of TCG Crossover II and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP II and may be deemed to share voting, investment and dispositive power with respect to these securities.

2. These securities are held of record by TCG Crossover Fund III, L.P. (TCG Crossover III). TCG Crossover GP III, LLC (TCG Crossover GP III) is the general partner of TCG Crossover III and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP III and may be deemed to share voting, investment and dispositive power with respect to these securities.

	/s/ TCG Crossover GP II, LLC /s/ Craig Skaling, Authorized Signatory	03/25/2026
	/s/ TCG Crossover Fund II, L.P. /s/ Craig Skaling, Authorized Signatory	03/25/2026
	/s/ TCG Crossover GP III, LLC /s/ Craig Skaling, Authorized Signatory	03/25/2026
	/s/ TCG Crossover Fund III, L.P. /s/ Craig Skaling, Authorized Signatory	03/25/2026
	/s/ Craig Skaling, as Attorney-in-Fact for Chen Yu	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did TCG Crossover report for Surrozen (SRZN)?

Affiliated TCG Crossover funds reported buying Surrozen shares in the open market. On March 23–24, they acquired a combined 121,881 shares of Surrozen common stock, reinforcing their role as significant, greater-than-10% shareholders in the company.

How many Surrozen (SRZN) shares did the TCG Crossover entities purchase?

The reporting entities bought a combined 121,881 Surrozen common shares. These were executed as four open-market purchases, each recorded as a non-derivative transaction, and are reflected as indirect holdings of the TCG Crossover investment funds.

At what prices were the Surrozen (SRZN) insider purchases made?

The Surrozen shares were purchased at prices around $24.90 and $24.69 per share. Transactions on March 23 occurred at $24.8999, and those on March 24 at $24.6931, indicating concentrated buying within a tight price range over two trading days.

Who actually holds the Surrozen (SRZN) shares reported in this Form 4?

The shares are held of record by TCG Crossover Fund II, L.P. and TCG Crossover Fund III, L.P. Their respective general partners, TCG Crossover GP II, LLC and TCG Crossover GP III, LLC, may be deemed to have voting, investment, and dispositive power over these securities.

How large is the Surrozen (SRZN) position reported after these insider buys?

The reporting entities disclose indirect ownership levels between 683,218 and 736,554 shares. These post-transaction figures, shown on the Form 4 lines, indicate substantial positions consistent with their classification as greater-than-10% beneficial owners of Surrozen.

Were there any Surrozen (SRZN) insider share sales in this Form 4?

No share sales were reported; all Form 4 transactions were purchases. The transaction summary shows four buy transactions totaling 121,881 shares, zero sales, and no derivative exercises, gifts, or tax-withholding dispositions in this particular filing.