{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-078590","form_type":"8-K","ticker":"SPRB","cik":"0001683553","company_name":"SPRUCE BIOSCIENCES, INC.","filed_at":"2025-05-29T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.331520+00:00","generated_at":"2026-05-20T05:53:44.415114+00:00","sec_items":["1.01","5.03","3.02","3.03","5.08","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Spruce Biosciences issues Series A Preferred with 22M votes to Executive Chair to enable reverse stock split vote","bullets":["Sold one share of Series A Preferred to Executive Chair Michael Grey for $100; shares have 22,000,000 votes on reverse stock split proposals only.","Series A votes must mirror common stock vote proportion on reverse split; abstentions/broker non-votes excluded, reducing their effect.","Series A automatically redeemed upon stockholder approval of reverse split; also redeemable at Board's discretion.","Company sets 2025 Annual Meeting for July 22, 2025; record date May 30; stockholder proposals due June 5.","Stock trades on OTC Pink since April 29; reverse split likely aimed at regaining exchange listing compliance."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-078590","json":"https://secwatch.observer/filing/0000950170-25-078590.json","markdown":"https://secwatch.observer/filing/0000950170-25-078590.md","text":"https://secwatch.observer/filing/0000950170-25-078590.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1683553/000095017025078590/0000950170-25-078590-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1683553/000095017025078590/sprb-20250528.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-20T05:53:44.415114+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":"be15b1819a56d9f0bdf4cf94a810788f37818429","claim":"SPRUCE BIOSCIENCES, INC.: Filed Certificate of Designation for Series A Preferred Stock, establishing preferences, rights, and limitations including 22,000,000 votes limited to voting on a Reverse Stock Split Proposal, non-convertibility, $100.00 liquidation preference, transfer restrictions, and redemption provisions (effective 2025-05-28).","evidence_excerpt":"On May 28, 2025, in connection with the Purchase Agreement, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series A Preferred Stock (the “Series A Certificate of Designation”) with the Secretary of State of the State of Delaware.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1683553/000095017025078590/0000950170-25-078590-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2025-05-28"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}