---
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"
generated_at: "2026-05-17T04:19:26.303759+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Spruce Biosciences raises $50M via stock and pre-funded warrants; BLA submission set for Q1 2026

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-234516
- JSON: https://secwatch.observer/filing/0001193125-25-234516.json
- Plain text: https://secwatch.observer/filing/0001193125-25-234516.txt

## Key facts
- Equity Issuances
  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.
  - Security: warrant
  - Shares: pre-funded warrants to purchase up to 233,144 shares of Common Stock
  - Purchaser: certain institutional investors
  - Consideration: purchase price for the Pre-Funded Warrants is $67.99
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1683553/000119312525234516/0001193125-25-234516-index.htm
- Equity Issuances
  SPRUCE BIOSCIENCES, INC. issued 502,181 shares of common stock to certain institutional investors for $68.00 per share.
  - Security: common stock
  - Shares: 502,181 shares
  - Purchaser: certain institutional investors
  - Consideration: $68.00 per share
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1683553/000119312525234516/0001193125-25-234516-index.htm

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