Novo Holdings Amends Spruce Biosciences Stake Filing

TL;DR

Novo Holdings updated its 13D filing for Spruce Biosciences on 3/20/24.

AI Summary

Novo Holdings A/S, formerly Novo A/S, has filed an amendment (No. 6) to its Schedule 13D on March 20, 2024, regarding its holdings in Spruce Biosciences, Inc. The filing indicates a change in the date as of which the information is reported to March 20, 2024. Novo Holdings A/S is a significant shareholder in Spruce Biosciences, Inc., a company focused on pharmaceutical preparations.

Why It Matters

This filing updates the market on Novo Holdings A/S's significant stake in Spruce Biosciences, Inc., which could influence investor sentiment and strategic decisions for the biotech company.

Risk Assessment

Risk Level: medium — Schedule 13D filings often signal significant changes in a major shareholder's intentions or holdings, which can impact a company's stock price and future direction.

Key Numbers

• 20240320 — Filing Date (Date of the Schedule 13D/A amendment)

Key Players & Entities

• Novo Holdings A/S (company) — Filing entity
• Spruce Biosciences, Inc. (company) — Subject company
• Novo A/S (company) — Former name of Novo Holdings A/S
• Barbara Fiorini (person) — Authorized to receive communications
• B. Shayne Kennedy (person) — Copy to counsel

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $3.96 — of common stock at an exercise price of $3.96 per share. (2) Based upon (i) 41,149
• $0 — t an average weighed price per share of $0.7684, with prices ranging from $0.75 to
• $0.75 — re of $0.7684, with prices ranging from $0.75 to $0.8004. On March 19, 2024, Novo H
• $0.8004 — 7684, with prices ranging from $0.75 to $0.8004. On March 19, 2024, Novo Holdings A/S
• $0.7105 — re of $0.7550, with prices ranging from $0.7105 to $0.7887. On March 20, 2024, Novo H
• $0.7887 — 50, with prices ranging from $0.7105 to $0.7887. On March 20, 2024, Novo Holdings A/S
• $0.7110 — re of $0.7336, with prices ranging from $0.7110 to $0.7633. Item5. Interest in Secur
• $0.7633 — 36, with prices ranging from $0.7110 to $0.7633. Item5. Interest in Securities of th

Filing Documents

• d810240dsc13da.htm (SC 13D/A) — 31KB
• 0001193125-24-073032.txt ( ) — 33KB

is amended and replaced in its entirety as follows

Item 5 is amended and replaced in its entirety as follows: (a) Novo Holdings A/S beneficially owns 4,671,021 shares of Common Stock (the Novo Shares ) representing approximately 10.9% of the Issuers outstanding shares of Common Stock, based upon (i) 41,149,160 shares of the Issuers Common Stock outstanding as of March 14, 2024, as reported in the Issuers 10-K filed with the SEC on March 18, 2024, plus (ii) 1,656,000 shares of Common Stock issuable upon the exercise of the warrants held by Novo Holdings A/S. (b) Novo Holdings A/S is a Danish corporation wholly owned by the Novo Nordisk Foundation. Novo Holdings A/S has the sole power to vote and dispose of the Novo Shares. Neither the Foundation nor any person listed on Schedule I has the power to direct the vote as to, or the disposition of the Novo Shares. (c) Since the Schedule 13D/A filed on March 18, 2024, except as set forth in Item 3, Novo Holdings A/S has not effected any transactions in the Issuers Common Shares within the past 60 days and neither the Foundation nor any person listed on Schedule I has effected any transactions in the Issuers Common Shares within the past 60 days. The information set forth in Item 3 of the Schedule 13D/A filed on March 18, 2024 is incorporated herein. (d) Novo Holdings A/S does not know of any other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Novo Shares. (e) Not applicable. 3 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: March 20, 2024 Novo Holdings A/S /s/ Barbara Fiorini Due By:Barbara Fiorini Due Its:General Counsel, Finance & Operations

View Full Filing

View this SC 13D/A filing on SEC EDGAR