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Spruce Biosciences Enters Purchase Agreement with Board Chair

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Spruce Biosciences Enters Purchase Agreement with Board Chair

Confident Investing Starts Here:

An announcement from Spruce Biosciences ( (SPRB) ) is now available.

On May 28, 2025, Spruce Biosciences, Inc. entered into a Purchase Agreement with Michael Grey, the Executive Chair of the Company’s Board of Directors, to issue and sell one share of Series A Preferred Stock for $100. This transaction allows the Series A Preferred Stock to have significant voting power on any Reverse Stock Split Proposal, aligning its vote with the common stockholders’ decisions, thereby minimizing the impact of abstentions and non-votes. Additionally, Spruce Biosciences announced its 2025 Annual Meeting of Stockholders will be held on July 22, 2025, with a record date set for May 30, 2025, and provided revised deadlines for stockholder proposals.

The most recent analyst rating on (SPRB) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Spruce Biosciences stock, see the SPRB Stock Forecast page.

Spark’s Take on SPRB Stock

According to Spark, TipRanks’ AI Analyst, SPRB is a Underperform.

Spruce Biosciences faces substantial financial challenges with declining revenues and persistent losses. Bearish technical indicators and unfavorable valuation metrics further weigh on the stock. The strategic acquisition of TA-ERT offers potential growth, but the financial instability remains a critical concern.

To see Spark’s full report on SPRB stock, click here.

More about Spruce Biosciences

Average Trading Volume: 1,429,133

Technical Sentiment Signal: Sell

Current Market Cap: $2.74M

For a thorough assessment of SPRB stock, go to TipRanks’ Stock Analysis page.

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