{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-234516","form_type":"8-K","ticker":"SPRB","cik":"0001683553","company_name":"SPRUCE BIOSCIENCES, INC.","filed_at":"2025-10-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.140762+00:00","generated_at":"2026-05-17T04:19:26.303759+00:00","sec_items":["1.01","3.02","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Spruce Biosciences raises $50M via stock and pre-funded warrants; BLA submission set for Q1 2026","bullets":["Private placement: 502,181 shares at $68.00 and pre-funded warrants for 233,144 shares; gross proceeds ~$50M; closing expected Oct 9, 2025.","Pre-funded warrants exercisable at $0.01 for 5 years, subject to 9.99% beneficial ownership limitation.","Company to file resale registration statement within 20 days after closing.","Pipeline update: TA-ERT for Sanfilippo Syndrome Type B BLA submission planned for Q1 2026; potential US commercial launch in late 2026.","Placement agents: Leerink Partners, Citizens Capital Markets, H.C. Wainwright, Oppenheimer & Co.; 6% fee on gross proceeds."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-234516","json":"https://secwatch.observer/filing/0001193125-25-234516.json","markdown":"https://secwatch.observer/filing/0001193125-25-234516.md","text":"https://secwatch.observer/filing/0001193125-25-234516.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1683553/000119312525234516/0001193125-25-234516-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1683553/000119312525234516/d36248d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:19:26.303759+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":"319a7cd95507d077491f840c78d32bc4d675ccd6","claim":"SPRUCE BIOSCIENCES, INC. issued pre-funded warrants to purchase up to 233,144 shares of Common Stock of warrant to certain institutional investors for purchase price for the Pre-Funded Warrants is $67.99.","evidence_excerpt":"up to 233,144 shares of Common Stock (the “Pre-Funded Warrants”) in a private placement transaction (the “Private Placement”). The purchase price per share of Common Stock is $68.00 per share (the “Purchase Price”) and the purchase price for the Pre-Funded Warrants is $67.99, which equals the Purchase Price minus the $0.01 exercise price per Pre-Funded","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1683553/000119312525234516/0001193125-25-234516-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"warrant"},{"label":"Shares","value":"pre-funded warrants to purchase up to 233,144 shares of Common Stock"},{"label":"Purchaser","value":"certain institutional investors"},{"label":"Consideration","value":"purchase price for the Pre-Funded Warrants is $67.99"}],"fact_type":"equity_issuance"},{"claim_id":"6c9fdddb7b0bf9fed1c16d45fa2a8d89000d0ffb","claim":"SPRUCE BIOSCIENCES, INC. issued 502,181 shares of common stock to certain institutional investors for $68.00 per share.","evidence_excerpt":"up to 233,144 shares of Common Stock (the “Pre-Funded Warrants”) in a private placement transaction (the “Private Placement”). The purchase price per share of Common Stock is $68.00 per share (the “Purchase Price”) and the purchase price for the Pre-Funded Warrants is $67.99, which equals the Purchase Price minus the $0.01 exercise price per Pre-Funded","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1683553/000119312525234516/0001193125-25-234516-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"common stock"},{"label":"Shares","value":"502,181 shares"},{"label":"Purchaser","value":"certain institutional investors"},{"label":"Consideration","value":"$68.00 per share"}],"fact_type":"equity_issuance"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}