HealthCap VIII, L.P. Reduces Stake in Spruce Biosciences, Inc.

HealthCap VIII, L.P. has filed an amendment to its Schedule 13D, indicating a reduction in its ownership stake in Spruce Biosciences, Inc. On October 7, 2025, HealthCap VIII, L.P. sold 12,500 shares of Common Stock at $205.99 per share. As of October 9, 2025, HealthCap VIII, L.P. and its related entities ceased to be beneficial owners of more than five percent of the Common Stock. The filing also details the current ownership structure, including the direct holding of 27,201 shares of Common Stock and warrants exercisable for 9,439 shares of Common Stock by HealthCap VIII, L.P. The amendment provides updated percentages of ownership based on the total outstanding shares of Common Stock, which includes shares issued in a private placement announced on October 8, 2025.