---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-074990"
form_type: "8-K"
ticker: "SPRB"
cik: "0001683553"
company_name: "SPRUCE BIOSCIENCES, INC."
filed_at: "2024-06-18T23:59:59+00:00"
generated_at: "2026-06-01T03:55:24.265680+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Spruce Biosciences designated back-up bidder for Avexitide assets, net purchase price $34.7M

## Summary
- Entered stalking horse agreement June 13 for Avexitide assets; initial purchase price $10M.
- After auction June 17, Spruce became back-up bidder; net purchase price $34.7M (after $0.3M fee credit).
- Sale to winning bidder subject to Bankruptcy Court approval at hearing scheduled June 26, 2024.
- If winning bidder fails to close, Spruce must acquire assets; otherwise receives $0.3M termination fee.
- Spruce also assumes specified contractual cure amounts up to $0.3M if it becomes buyer.

## SEC filing metadata
- accession: 0000950170-24-074990
- form_type: 8-K
- ticker: SPRB
- cik: 0001683553
- company_name: SPRUCE BIOSCIENCES, INC.
- filed_at: 2024-06-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1683553/000095017024074990/0000950170-24-074990-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1683553/000095017024074990/sprb-20240613.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-074990
- JSON: https://secwatch.observer/filing/0000950170-24-074990.json
- Plain text: https://secwatch.observer/filing/0000950170-24-074990.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.