{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-002369","form_type":"8-K","ticker":"SPRB","cik":"0001683553","company_name":"SPRUCE BIOSCIENCES, INC.","filed_at":"2023-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.132881+00:00","generated_at":"2026-06-19T20:32:16.736693+00:00","sec_items":["1.01","3.02","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Spruce Biosciences raises $53.6M in private placement of common stock and warrants","bullets":["Issued 16.1M shares, 0.8M pre-funded warrants, and 12.7M standard warrants; purchase price $3.17 per share.","Gross proceeds of ~$53.6M; standard warrants exercisable at $3.96 per share for 5 years.","Closing expected on or before February 17, 2023; SVB Securities is placement agent (5% fee).","Company must file registration statement within 30 days of closing to register resale of securities.","Purchasers include Abingworth, HealthCap, Novo Holdings, RiverVest, and Rock Springs."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-002369","json":"https://secwatch.observer/filing/0000950170-23-002369.json","markdown":"https://secwatch.observer/filing/0000950170-23-002369.md","text":"https://secwatch.observer/filing/0000950170-23-002369.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1683553/000095017023002369/0000950170-23-002369-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1683553/000095017023002369/sprb-20230208.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T20:32:16.736693+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"967677aab986e664bf4d994cebebdbc4f29e89a9","claim":"SPRUCE BIOSCIENCES, INC. entered into Securities Purchase Agreement with certain institutional investors valued at approximately $53.6 million (effective 2023-02-08).","evidence_excerpt":"On February 8, 2023, Spruce Biosciences, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”), pursuant to which the Company agreed to sell and issue (i) 16,116,000 shares of the Company’s common stock (“Common Stock”), (ii) pre-funded warrants to purchase 800,000 shares of Common Stock (the “Pre-Funded Warrants”) to a Purchaser and (iii) 12,687,000 warrants to purchase Common Stock (the “Standard Warrants” and together with the Pre-Funded Warrants, the “Warrants”) in a private placement transaction (the “Private Placement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1683553/000095017023002369/0000950170-23-002369-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"certain institutional investors"},{"label":"Value","value":"approximately $53.6 million"},{"label":"Effective","value":"2023-02-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}