secwatch.observer — SEC 8-K summary
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Issuer:     SPRUCE BIOSCIENCES, INC. (SPRB)
CIK:        0001683553
Form:       8-K
Filed at:   2022-12-02T23:59:59+00:00
Accession:  0000950170-22-026009
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spruce Biosciences terminates Daly City HQ lease, signs new 5-year South San Francisco office lease
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- Terminated prior lease at 2001 Junipero Serra Blvd, Daly City effective Dec 31, 2022; receiving $0.6M termination fee and return of $0.2M letter of credit.
- Signed new 62-month lease for 6,496 sq ft at 611 Gateway Blvd, Suite 740, South San Francisco starting Jan 1, 2023.
- Initial annual base rent ~$0.3M with 3% annual increases; tenant improvement allowance of $129,920.
- Lease includes 60-day rent abatement period after commencement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1683553/000095017022026009/0000950170-22-026009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1683553/000095017022026009/sprb-20221128.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer