Company: SPRB
Filing Date: 2025-06-06
Form Type: DEFA14A
Source: 0000950170-25-083045
Chunk: 14

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-06-06
Form: DEFA14A
Chunk 14
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2016 Equity Incentive Plan, 4,743,183 shares of common stock reserved for future issuance under the Company’s 2020 Equity Incentive Plan and 1,349,079 shares of common stock reserved for future issuance under the Company’s 2020 Employee Stock Purchase Plan. As of the Record Date, we have one share of preferred stock outstanding, which would not change with the effectiveness of the Reverse Stock Split. Procedure for Implementing the Reverse Stock Split Beneficial Holders of Common Stock Upon the implementation of the Reverse Stock Split, we intend to treat shares of our common stock held by stockholders through a bank, broker or other nominee in the same manner as registered stockholders whose shares are registered in their own names. Banks, brokers or other nominees will be instructed to effect the Reverse Stock Split

for their beneficial holders holding our common stock in street name. However, these banks, brokers or other nominees may have different procedures than registered stockholders for processing the Reverse Stock Split. Stockholders who hold shares of our common stock with a bank, broker or other nominee and who have any questions in this regard are encouraged to contact their banks, brokers or other nominees.

Registered “Book-Entry” Holders of Common Stock

Certain of our registered holders of common stock may hold some or all of their shares of our common stock electronically in book-entry form with the transfer agent. These stockholders do not have stock certificates evidencing their ownership of the common stock. They are, however, provided with statements reflecting the number of shares registered in their accounts. Stockholders who hold shares of our common stock electronically in book-entry form with the transfer agent will not need to take action to receive evidence of their shares of post-Reverse Stock Split common stock.

Holders of Certificated Shares of Common Stock

Stockholders holding shares of our common stock in certificated form will be sent a transmittal letter by the transfer agent after the effective time of the Reverse Stock Split. The letter of transmittal will contain instructions on how a stockholder should surrender their certificate(s) representing shares of our common stock (the “Old Certificates”) to the transfer agent. Unless a stockholder specifically requests a new paper certificate or holds restricted shares, upon the stockholder’s surrender of all of the stockholder’s Old Certificates to the transfer agent, together with a properly completed and executed letter of transmittal, the transfer agent will register the appropriate number of shares of post-Reverse Stock Split common stock electronically in book-entry form