Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SPRUCE BIOSCIENCES, INC. incurred credit facility of up to $50.0 million with Avenue Venture Opportunities Fund II, L.P., as lender at the greater of (x) the sum of 5.25% plus the prime rate...and (y) 12.25% maturing July 1, 2029.
- Instrument
- credit facility
- Principal
- up to $50.0 million
- Counterparty
- Avenue Venture Opportunities Fund II, L.P., as lender
- Rate
- the greater of (x) the sum of 5.25% plus the prime rate...and (y) 12.25%
- Maturity
- July 1, 2029
- Event
- incurrence
Exact text from the filing
with Avenue Capital Management II, L.P., as administrative agent and collateral agent (the “Agent”) and Avenue Venture Opportunities Fund II, L.P., as lender (the “Lender”). The Loan Agreement makes available to the Company term loans in an aggregate principal amount of up to $50.0 million
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Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.4
SPRUCE BIOSCIENCES, INC. issued common stock to Avenue Capital Management II, L.P. (as Agent) for up to $4.0 million of the outstanding principal.
- Security
- common stock
- Purchaser
- Avenue Capital Management II, L.P. (as Agent)
- Consideration
- up to $4.0 million of the outstanding principal
Exact text from the filing
the Lender will have the right to convert up to $4.0 million of the outstanding principal of the Loans (the “Conversion Option”) at a price per share equal to 120% of the exercise price of the Warrant
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Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.4
SPRUCE BIOSCIENCES, INC. issued warrant to Avenue Venture Opportunities Fund II, L.P. for up to $3,200,000 worth of shares.
- Security
- warrant
- Purchaser
- Avenue Venture Opportunities Fund II, L.P.
- Consideration
- up to $3,200,000 worth of shares
Exact text from the filing
the Company will issue to the Lender a warrant (the “Warrant”) to purchase up to $3,200,000 worth of shares of the Company’s common stock
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SPRUCE BIOSCIENCES, INC. entered into Loan and Security Agreement with Avenue Capital Management II, L.P. and Avenue Venture Opportunities Fund II, L.P. valued at $50.0 million (effective 2026-01-07).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Avenue Capital Management II, L.P. and Avenue Venture Opportunities Fund II, L.P.
- Value
- $50.0 million
- Effective
- 2026-01-07
Exact text from the filing
On January 7, 2026 (the “Closing Date”), Spruce Biosciences, Inc. (the “Company”) entered into a Loan and Security Agreement (the “Loan and Security Agreement”) and a Supplement to the Loan and Security Agreement (together with the Loan and Security Agreement, the “Loan Agreement”), with Avenue Capital Management II, L.P., as administrative agent and collateral agent (the “Agent”) and Avenue Venture Opportunities Fund II, L.P., as lender (the “Lender”).
View on SEC.gov