Consonance-HFW Acquisition Corp.: directors' dealings · United States · SEC (Form 4)

About Consonance-HFW Acquisition Corp.

Consonance-HFW Acquisition Corp. (ticker: CHFW) was a U.S.-listed special purpose acquisition company, or SPAC, that traded on NYSE American before completing its business combination and ceasing to exist as a standalone acquisition vehicle. For investors, CHFW should be viewed not as a conventional operating business, but as a capital-market structure created to raise cash in the public markets and acquire a target company through a merger process. The company was formed in 2020 and its administrative headquarters were in Princeton, New Jersey, United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1824893/0001104659-20-127357-index.htm)) At the IPO stage, CHFW raised $80 million in November 2020. Its units consisted of one Class A ordinary share and one-third of one redeemable warrant, and the company was listed on NYSE American under the symbol CHFW.U. The prospectus and IPO materials stated that the SPAC could pursue a transaction in any industry or geography, but that it intended to focus on life sciences, particularly biotechnology, in the United States and Europe. That sponsor-led healthcare focus is the main reason this dossier fits the Health & Pharma sector tag rather than a traditional industrial category. ([davispolk.com](https://www.davispolk.com/experience/consonance-hfw-acquisition-80-million-ipo)) From a competitive standpoint, CHFW’s “business” was the SPAC model itself. Its edge depended on sponsor credibility, deal-sourcing ability, and access to public-market capital, not on manufacturing assets, proprietary products, or a recurring revenue base. Before the merger, it had no operating products or commercial services to sell. Instead, the value proposition to investors was the shell structure, the public listing, and the possibility of pairing with a compelling biotech asset. ([davispolk.com](https://www.davispolk.com/experience/consonance-hfw-acquisition-80-million-ipo)) The key corporate milestone came on April 15, 2021, when CHFW signed a Business Combination Agreement with Surrozen, a Delaware biotechnology company. The SEC filings show that the transaction was designed to merge the SPAC with Surrozen, allowing the combined company to become publicly traded. After closing on August 11, 2021, the post-combination company began trading on Nasdaq Capital Market under SRZN and SRZNW on August 12, 2021. For market participants, this is critical: CHFW is historically important mainly as the pre-merger SPAC vehicle, while the ongoing operating business moved forward under the Surrozen name. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1824893/000119312521233211/d212338d8k.htm)) Recent news flow relevant to CHFW is therefore mostly legacy SEC activity: Form 4 insider transactions, business-combination disclosures, and historical filings around the Surrozen transaction. There is no evidence in the filings reviewed of an independent, ongoing operating business under the CHFW ticker today; rather, the ticker is tied to the SPAC phase and its transition into the Surrozen public-company structure. For SEO purposes, the most accurate framing is a former healthcare-focused SPAC from the United States that was listed on NYSE American and later used to take Surrozen public on Nasdaq. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1824893/000119312521233211/d212338d8k.htm))