Novo Holdings Amends Spruce Biosciences Stake Filing

TL;DR

Novo Holdings updated its 13D filing for Spruce Biosciences on 3/25/24. Keep an eye on this one.

AI Summary

Novo Holdings A/S, formerly Novo A/S, has filed an amendment (Amendment No. 7) to its Schedule 13D on March 25, 2024, regarding its holdings in Spruce Biosciences, Inc. The filing indicates a change in the date as of which the information is current to March 25, 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 information for a major shareholder in Spruce Biosciences, potentially signaling changes in investment strategy or ownership structure that could impact the company's stock.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant ownership stakes and potential influence, which can introduce volatility or strategic shifts for the subject company.

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) — Person authorized to receive communications
• B. Shayne Kennedy, Esq. (person) — Copy to contact

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 $0.7547, with prices ranging from $0.71 to
• $0.71 — re of $0.7547, with prices ranging from $0.71 to $0.7785. On March 22, 2024, Novo H
• $0.7785 — 7547, with prices ranging from $0.71 to $0.7785. On March 22, 2024, Novo Holdings A/S
• $0.759 — 7370, with prices ranging from $0.71 to $0.759. On March 25, 2024, Novo Holdings A/S
• $0.6786 — re of $0.7197, with prices ranging from $0.6786 to $0.7492. Item5. Interest in Secur
• $0.7492 — 97, with prices ranging from $0.6786 to $0.7492. Item5. Interest in Securities of th

Filing Documents

• d818287dsc13da.htm (SC 13D/A) — 33KB
• 0001193125-24-076792.txt ( ) — 34KB

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 2,756,000 shares of Common Stock (the Novo Shares ) representing approximately 6.4% 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 20, 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 20, 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 25, 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