Spruce Biosciences to Implement Reverse Stock Split to Meet Nasdaq Requirements

Spruce Biosciences will enact a 1-for-75 reverse stock split effective August 4, 2025, to regain Nasdaq compliance. Trading will begin on August 5, 2025, under the same ticker "SPRB". The split aims to meet Nasdaq's $1 minimum bid requirement, reducing outstanding shares from ~42.2M to ~0.6M.

Spruce Biosciences, Inc. (OTCQB: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders, has announced a 1-for-75 reverse stock split. This move is aimed at regaining compliance with Nasdaq's minimum bid price requirement, which is $1 per share. The reverse stock split will take effect at 5:00 p.m. Eastern Time on August 4, 2025, and the company's common stock is expected to begin trading on a split-adjusted basis when the markets open on August 5, 2025, under the existing trading symbol "SPRB" with the new CUSIP number 85209E208 [1].

The reverse stock split will reduce the number of issued and outstanding shares of common stock from approximately 42.2 million shares to approximately 0.6 million shares. This will help the company meet the Nasdaq Capital Market's listing rule 5450(a)(1) requirement for a minimum bid price of $1 per share. The split will also affect stockholders uniformly, with no change in their relative interest in the company's equity securities, except for any adjustments for fractional shares [2].

Spruce Biosciences' common stock will resume trading on the Nasdaq Capital Market so long as the company remains in compliance with the minimum bid price requirement for 20 consecutive trading days following the effective date of the reverse stock split [1].

About Spruce Biosciences

Spruce Biosciences is dedicated to developing and commercializing novel therapies for neurological disorders with significant unmet medical needs. The company aims to bring innovative solutions to the market, focusing on the critical areas of neurological health.

Forward-Looking Statements

The information provided in this article is based on forward-looking statements made by Spruce Biosciences. These statements are subject to risks and uncertainties, including those related to the timing and implementation of the reverse stock split, the potential impact on stockholders, and the company's ability to regain compliance with Nasdaq's listing requirements. Actual results may differ materially from those expressed or implied by such forward-looking statements [1].

References

[1] https://www.businesswire.com/news/home/20250724198639/en/Spruce-Biosciences-Announces-Reverse-Stock-Split
[2] https://www.stocktitan.net/news/SPRB/spruce-biosciences-announces-reverse-stock-mo4komiqhnkz.html