The disclosure on page 165 of the Definitive Proxy Statement/Prospectus is hereby supplemented by
amending and restating the fourth paragraph as follows:
Between February 25, 2021 and March 1, 2021, CHFW continued its due diligence of
Surrozen, and CHFW and Surrozen finalized the term sheet, which was executed on March 1, 2021. The executed term sheet provided for an implied Surrozen equity value of $250.0 million, a $100.0 million PIPE Financing (including
$25.0 million committed by Sponsor and Surrozens obligation to obtain $5 million from the Column Group and to use commercially reasonable efforts to obtain $20 million in commitments from other current Surrozen investors), a
nine person New Surrozen board of directors, with the ability of CHFW to appoint one director, subject to such individual being acceptable to the Surrozen CEO, a minimum cash closing condition of $100.0 million (net of CHFW transaction
expenses), that the New Surrozen equity incentive plan would have an award pool equal to 10% of New Surrozens outstanding stock immediately after the closing, with an additional automatic 5% annual evergreen provision and a 30-day binding and mutual exclusivity provision. None of CHFWs current directors or officers are contemplated to become employees of New Surrozen and no discussions between CHFW and Surrozen or their
respective representatives have occurred in connection therewith.
Additional Information
In connection with the Business Combination, CHFW filed a registration statement on Form S-4 (333-256146) (as amended the Registration Statement) with the U.S. Securities and Exchange Commission (the SEC). On July 15, 2021, the Registration Statement was declared effective by
the SEC. On July 15, 2021, CHFW filed a definitive proxy statement relating to CHFWs special meeting of stockholders in lieu of the 2021 annual meeting to be held on August 10, 2021, to consider matters and transactions relating to
the Business Combination and final prospectus with respect to the securities of CHFW to be issued in connection with the Business Combination to Surrozen stockholders. This communication is not a substitute for the Registration Statement, the
definitive proxy statement/final prospectus or any other document that CHFW sends its shareholders in connection with the Business Combination. The definitive proxy statement/final prospectus contains important information about CHFW, Surrozen and
their respective business and related risks, the combined company, including pro forma financial information and the proposed Business Combination and related matters. Investors and security holders of CHFW are advised to read the
proxy statement/prospectus in connection with CHFWs solicitation of proxies for its extraordinary general meeting of shareholders to be held to approve the Business Combination (and related matters) because the proxy statement/prospectus
contains important information about the Business Combination and the parties to the Business Combination. Investors and security holders of Surrozen are advised to read the proxy statement/prospectus in connection with the written consent of
Surrozen stockholders. The definitive proxy statement/final prospectus was mailed to shareholders of CHFW as of the record date established for voting on the Business Combination. Shareholders are also able to obtain copies of the proxy
statement/prospectus, without charge, at the SECs website at www.sec.gov or by directing a request to: Consonance-HFW Acquisition Corp., 1 Palmer Square, Suite 305, Princeton, NJ.
Participants in the Solicitation
CHFW, Surrozen
and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of CHFWs shareholders in connection with the Business
Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of CHFWs directors and officers in CHFWs filings with the SEC, including the
Registration Statement to be filed with the SEC by CHFW, which will include the proxy statement of CHFW for the Business Combination, and such information and names of Surrozens directors and executive officers will also be in the Registration
Statement to be filed with the SEC by CHFW, which will include the proxy statement of CHFW for the Business Combination.
Forward Looking Statements
Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as believe, may, will, estimate,
continue, anticipate, intend, expect, should, would, plan, predict, potential,
seem, seek, future, outlook and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking
statements include, but are not limited to, statements regarding future events, the Business Combination between CHFW and Surrozen, the estimated or anticipated future results and benefits of the combined company following the Business Combination,
including the likelihood and ability of the parties to successfully consummate the Business Combination, future opportunities for the combined company, and other statements that are not historical facts. These statements are based on the current
expectations of CHFWs management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a
guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from