Braidwell group discloses 5.5% Surrozen (SRZN) ownership stake

Rhea-AI Filing Summary

Braidwell and affiliates disclosed a significant position in Surrozen, Inc. common stock. As of December 31, 2025, Braidwell LP, Braidwell Management LLC, Alexander T. Karnal, and Brian J. Kreiter may be deemed beneficial owners of 470,000 shares, representing about 5.5% of Surrozen’s outstanding common stock.

All 470,000 shares are directly owned by Braidwell Partners Master Fund LP, with each reporting person sharing voting and dispositive power and no sole authority. The stake is reported as being held in the ordinary course of business and not for the purpose of changing or influencing control of Surrozen.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Surrozen, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

86889P208

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

BRAIDWELL LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 470,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 470,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

470,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

BRAIDWELL MANAGEMENT LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 470,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 470,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

470,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

OO, HC

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

ALEXANDER T. KARNAL

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 470,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 470,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

470,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

BRIAN J. KREITER

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 470,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 470,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

470,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Surrozen, Inc.
(b)	Address of issuer's principal executive offices: 171 Oyster Point Blvd, Suite 400, South San Francisco, California, 94080
Item 2.
(a)	Name of person filing: This filing is being jointly filed by Braidwell LP, Braidwell Management LLC, Alexander Karnal, and Brian Kreiter (the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: The business address of each Reporting Person is: 2200 Atlantic St 4th Floor Stamford, CT 06902
(c)	Citizenship: Braidwell LP is a limited partnership organized under the laws of the State of Delaware. Braidwell Management LLC is a limited liability company organized under the laws of the State of Delaware. Alexander Karnal and Brian Kreiter are both citizens of the United States of America.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 86889P208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of December 31, 2025, each Reporting Person may be deemed to be the beneficial owner of 470,000 shares of common stock, all of which are directly owned by Braidwell Partners Master Fund LP.
(b)	Percent of class: As of December 31, 2025, each Reporting Person may be deemed to be the beneficial owner of approximately 5.5% of the shares of common stock outstanding. The percentage set forth herein is calculated based on 8,571,421 shares of common stock outstanding as of November 5, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission on November 7, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 470,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 470,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BRAIDWELL LP

Signature:	/s/ COLIN BETTISON
Name/Title:	COLLIN BETTISON / AUTHORIZED SIGNATORY
Date:	02/17/2026

BRAIDWELL MANAGEMENT LLC

Signature:	/s/ COLIN BETTISON
Name/Title:	COLLIN BETTISON / AUTHORIZED SIGNATORY
Date:	02/17/2026

ALEXANDER T. KARNAL

Signature:	/s/ ALEXANDER T. KARNAL
Name/Title:	ALEXANDER T. KARNAL
Date:	02/17/2026

BRIAN J. KREITER

Signature:	/s/ BRIAN J. KREITER
Name/Title:	BRIAN J. KREITER
Date:	02/17/2026

Exhibit Information

Exhibit 1: Joint Filing Agreement, dated February 17, 2026

FAQ

What stake in Surrozen (SRZN) did Braidwell report?

Braidwell and affiliated reporting persons disclosed beneficial ownership of 470,000 Surrozen common shares. This position represents approximately 5.5% of Surrozen’s outstanding common stock as of December 31, 2025, based on 8,571,421 shares outstanding reported in the company’s Form 10-Q.

Who are the reporting persons in this Surrozen (SRZN) Schedule 13G?

The filing lists Braidwell LP, Braidwell Management LLC, Alexander T. Karnal, and Brian J. Kreiter as joint reporting persons. They report shared voting and dispositive power over the same 470,000 Surrozen shares, all held through Braidwell Partners Master Fund LP.

How much of Surrozen’s (SRZN) stock does the 470,000-share position represent?

The 470,000 Surrozen common shares represent approximately 5.5% of the outstanding class. This percentage is calculated using 8,571,421 shares outstanding as of November 5, 2025, as disclosed in Surrozen’s Form 10-Q for the quarter ended September 30, 2025.

Do the Braidwell reporting persons control Surrozen (SRZN)?

The filing states the Surrozen shares were acquired and are held in the ordinary course of business. It specifically certifies they were not acquired and are not held for the purpose of changing or influencing control of Surrozen or in connection with any such transaction.

Who has voting and dispositive power over the Surrozen (SRZN) shares reported?

Each reporting person reports 0 shares with sole voting or dispositive power and 470,000 shares with shared voting and dispositive power. All reported shares are directly owned by Braidwell Partners Master Fund LP, over which the reporting persons share authority.

What class of Surrozen (SRZN) securities is covered in this ownership filing?

The filing covers Surrozen, Inc. common stock with a par value of $0.0001 per share. The securities are identified by CUSIP 86889P208, and the reported ownership relates solely to this class of equity securities.