SPRUCE BIOSCIENCES, INC. (SPRB) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
SPRB currently has 2.75M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 245.95% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 13, 2026 |
10-Q filing | 2.8M shares outstanding |
2.8M | 0 |
| Nov 10, 2025 |
10-Q filing | 1.1M shares outstanding |
1.1M | 260K |
| Aug 14, 2025 |
10-Q filing | 0.6M shares outstanding |
590K | 740K |
| Aug 04, 2025 |
Stock Split
8-K filing: Stock split 1-for-75 | Outstanding: 43,944,946 → 585,786 |
590K | 740K |
| May 29, 2025 |
8-K filing: Spruce Biosciences, Inc. issued and sold one share of Series A Preferred Stock to Michael Grey for $100.00, which has 22,000,000 votes and can vote only on any Reverse Stock Split Proposal. ($0.0M proceeds) |
44M | 56M |
| May 06, 2025 |
10-Q filing | 43.9M shares outstanding |
44M | 56M |
| Apr 15, 2025 |
10-K filing | 41.3M shares outstanding |
41M | 59M |
| Nov 12, 2024 |
10-Q filing | 41.3M shares outstanding |
41M | 58M |
| Aug 12, 2024 |
10-Q filing | 41.2M shares outstanding |
41M | 59M |
| May 13, 2024 |
10-Q filing | 41.1M shares outstanding |
41M | 59M |
| Mar 18, 2024 |
10-K filing | 38.5M shares outstanding |
39M | 61M |
| Nov 13, 2023 |
10-Q filing | 40.7M shares outstanding |
41M | 59M |
| Aug 14, 2023 |
10-Q filing | 40.5M shares outstanding |
41M | 59M |
| May 15, 2023 |
10-Q filing | 39.7M shares outstanding |
40M | 60M |
| Mar 16, 2023 |
S-3 filing: This S-3 filing registers the resale of up to 29,603,000 shares of common stock by selling stockholders, consisting of shares already held and shares issuable upon exercise of warrants. The company will not receive proceeds from the sale of shares by the selling stockholders, but will receive the exercise price of warrants exercised for cash. |
24M | 76M |
| Mar 16, 2023 |
10-K filing | 39.7M shares outstanding |
40M | 60M |
| Feb 09, 2023 |
8-K filing: Spruce Biosciences, Inc. entered into a Securities Purchase Agreement to sell 16,116,000 shares of common stock, pre-funded warrants to purchase 800,000 shares of common stock, and 12,687,000 warrants to purchase common stock in a private placement, with gross proceeds of approximately $53.6 million. ($51.19M proceeds) |
24M | 47M |
| Nov 10, 2022 |
10-Q filing | 23.6M shares outstanding |
24M | 47M |
| Aug 10, 2022 |
10-Q filing | 23.6M shares outstanding |
24M | 47M |
| May 11, 2022 |
10-Q filing | 23.5M shares outstanding |
23M | 47M |
| Mar 14, 2022 |
10-K filing | 23.5M shares outstanding |
23M | 47M |
| Feb 09, 2022 |
S-3/A filing: The filing is for a shelf offering of up to $200,000,000 of common stock, preferred stock, and debt securities. |
23M | 47M |
| Dec 30, 2021 |
S-3 filing: The company is filing an S-3 to register an indeterminate number of shares of common stock, preferred stock, debt securities and warrants to purchase common stock, preferred stock or debt securities as shall have an aggregate initial offering price not to exceed $200,000,000. |
23M | 47M |
| Nov 15, 2021 |
10-Q filing | 23.5M shares outstanding |
23M | 0 |
| Aug 10, 2021 |
10-Q filing | 23.4M shares outstanding |
23M | 0 |
| May 12, 2021 |
10-Q filing | 23.3M shares outstanding |
23M | 0 |
| Mar 22, 2021 |
10-K filing | 23.3M shares outstanding |
23M | 0 |
| Nov 18, 2020 |
10-Q filing | 23.2M shares outstanding |
23M | 0 |