Spruce Biosciences to implement 1-for-75 reverse stock split

SOUTH SAN FRANCISCO - Spruce Biosciences, Inc. (OTCQB:SPRB), currently trading with a market capitalization of $5.15 million, will implement a 1-for-75 reverse stock split of its common stock effective August 4, 2025, with trading on a split-adjusted basis beginning August 5, the company announced. According to InvestingPro data, the stock has shown significant price volatility, with a beta of 2.4.

The reverse split, approved by stockholders on July 22, aims to bring the late-stage biopharmaceutical company into compliance with Nasdaq Capital Market’s minimum bid price requirement. Spruce anticipates relisting on the Nasdaq if it maintains compliance for 20 consecutive trading days following the effective date. The company’s shares have experienced a challenging year, with InvestingPro showing a 71% decline year-to-date.

The split will reduce Spruce’s outstanding shares from approximately 42.2 million to 0.6 million shares, while maintaining the same trading symbol. Proportionate adjustments will be made to the company’s outstanding stock options, restricted stock unit awards, and warrants.

Stockholders will not receive fractional shares but instead will get cash payments for any fractional interests. Those holding shares electronically need not take action to receive post-split shares.

Computershare Inc. is serving as the exchange agent and transfer agent for the reverse stock split.

Spruce Biosciences describes itself as focused on developing therapies for neurological disorders with significant unmet medical need. The information in this article is based on a company press release statement.

In other recent news, Spruce Biosciences has received approval from Nasdaq to resume trading on the Nasdaq Capital Market. This approval is contingent upon the company regaining compliance with Nasdaq’s minimum bid price requirement by August 5, 2025. To address this requirement, Spruce Biosciences is seeking stockholder approval for a reverse stock split at its upcoming annual meeting on July 22. The company’s board has indicated that this measure is necessary to meet the exchange’s standards. These developments are part of the company’s ongoing efforts to maintain its listing status on Nasdaq.

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