SCHEDULE: TCG Crossover Discloses Surrozen Stake

TCG Crossover entities and Chen Yu have updated their Schedule 13G filing, reporting a combined beneficial ownership of 9.9% in Surrozen, Inc.

Summary

• TCG Crossover Fund II, L.P., TCG Crossover GP II, LLC, TCG Crossover Fund III, L.P., TCG Crossover GP III, LLC, and Chen Yu have filed an amendment to their Schedule 13G, reporting their beneficial ownership of Surrozen, Inc. common stock.
• The filing indicates a combined beneficial ownership of 1,148,101 shares, representing 9.9% of the outstanding common stock.
• This ownership is based on 11,610,371 shares of common stock outstanding as of May 4, 2026, as reported by Surrozen, Inc. in its Form 10-Q filed on May 6, 2026.
• TCG Crossover GP II is the general partner of TCG Crossover II, and TCG Crossover GP III is the general partner of TCG Crossover III. Chen Yu is the sole managing member of both GP entities.
• The reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of ownership stake without new operational or financial information.

Positives

• Significant stake reported by TCG Crossover entities and Chen Yu, indicating investor confidence or strategic interest in Surrozen, Inc.

Negatives

• The filing does not contain information that can be directly interpreted as negative financial or operational performance for Surrozen, Inc.

Risks

• The filing does not explicitly mention any risks or challenges related to Surrozen, Inc.'s business operations or the reporting persons' investment strategy.

Future Outlook

The filing does not contain forward-looking statements or guidance from Surrozen, Inc. or the reporting persons regarding future performance or strategy.

Management Comments

• Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.

Industry Context

StockSavvy.ai notes that Schedule 13G filings typically indicate passive investment stakes. The significant percentage held by TCG Crossover and Chen Yu suggests a notable interest in Surrozen, Inc., which operates in the biotechnology sector, an area often characterized by substantial investment and potential for growth or volatility.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by TCG Crossover and Chen Yu may be interpreted by the market as a sign of confidence or potential future strategic involvement, which could influence share price perception.
• Management and Board of Directors: The increased visibility of a substantial shareholder may lead to increased engagement or scrutiny from the reporting persons.

Next Steps

• The reporting persons will continue to monitor their investment in Surrozen, Inc. and may adjust their holdings based on future circumstances.

Key Dates

Keywords

Surrozen, TCG Crossover, Schedule 13G, Beneficial Ownership, Common Stock, Investment, SEC Filing, Chen Yu