secwatch.observer — SEC 8-K summary
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Issuer:     SPRUCE BIOSCIENCES, INC. (SPRB)
CIK:        0001683553
Form:       8-K
Filed at:   2023-02-09T23:59:59+00:00
Accession:  0000950170-23-002369
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spruce Biosciences raises $53.6M in private placement of common stock and warrants
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1683553/000095017023002369/0000950170-23-002369-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1683553/000095017023002369/sprb-20230208.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-002369

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