Spruce Shares Fall on $50M Private Placement

Dow Jones

Oct 08

By Nicholas G. Miller

Shares of Spruce Biosciences were lower after the company said it had agreed to sell shares in a private placement expected to raise $50 million in gross proceeds.

The stock fell 23% to $140 in premarket trading.

The company said it has agreed to sell 502,181 shares of its common stock for $68 apiece while some investors are purchasing pre-funded warrants to buy up to 233,144 shares at $67.99 each. The warrants will be exercisable for five years.

The company said it would use the proceeds to advance its treatment of Sanfilippo Syndrome Type B, a rare genetic disorder, through a biologics license application submission in the first quarter of next year and a U.S. commercial launch in late 2026.

The placement is expected to close Thursday.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

October 08, 2025 08:39 ET (12:39 GMT)

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Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Shares of <a href=\"https://laohu8.com/S/SPRB\">Spruce Biosciences</a> were lower after the company said it had agreed to sell shares in a private placement expected to raise $50 million in gross proceeds. \n</p>\n<p>\n  The stock fell 23% to $140 in premarket trading. \n</p>\n<p>\n  The company said it has agreed to sell 502,181 shares of its common stock for $68 apiece while some investors are purchasing pre-funded warrants to buy up to 233,144 shares at $67.99 each. The warrants will be exercisable for five years. \n</p>\n<p>\n  The company said it would use the proceeds to advance its treatment of Sanfilippo Syndrome Type B, a rare genetic disorder, through a biologics license application submission in the first quarter of next year and a U.S. commercial launch in late 2026. \n</p>\n<p>\n  The placement is expected to close Thursday. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 08, 2025 08:39 ET (12:39 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SPRB","symbol_name":"Spruce Biosciences, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2573255879","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2573255879","pubTimestamp":1759927140,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Spruce Biosciences were lower after the company said it had agreed to sell shares in a private placement expected to raise $50 million in gross proceeds.The stock fell 23% to $140 in premarket trading.The company said it has agreed to sell 502,181 shares of its common stock for $68 apiece while some investors are purchasing pre-funded warrants to buy up to 233,144 shares at $67.99 each. The warrants will be exercisable for five years.The company said it would use the proceeds to advance its treatment of Sanfilippo Syndrome Type B, a rare genetic disorder, through a biologics license application submission in the first quarter of next year and a U.S. commercial launch in late 2026.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SPRB":"Spruce Biosciences, Inc.","BK4139":"生物科技"},"translate_title":"Spruce股价因5000万美元私募而下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SPRB":0.9},"content_text":"By Nicholas G. Miller \n\n\n \n\n\n  Shares of Spruce Biosciences were lower after the company said it had agreed to sell shares in a private placement expected to raise $50 million in gross proceeds. \n\n\n  The stock fell 23% to $140 in premarket trading. \n\n\n  The company said it has agreed to sell 502,181 shares of its common stock for $68 apiece while some investors are purchasing pre-funded warrants to buy up to 233,144 shares at $67.99 each. The warrants will be exercisable for five years. \n\n\n  The company said it would use the proceeds to advance its treatment of Sanfilippo Syndrome Type B, a rare genetic disorder, through a biologics license application submission in the first quarter of next year and a U.S. commercial launch in late 2026. \n\n\n  The placement is expected to close Thursday. \n\n\n \n\n\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 08, 2025 08:39 ET (12:39 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}