Spruce Biosciences Prices IPO Of 6.0 Mln Shares At $15, The Mid Of Expected Range

(RTTNews) - Spruce Biosciences, Inc. announced the pricing of initial public offering of 6.0 million common shares at $15.00 per share, the mid of the expected range of between $14.00 and $16.00 per share.

The company shares to begin trading on the Nasdaq Global Select Market on October 9, under the symbol "SPRB" and the offering is expected to close on October 14, 2020.

Spruce also granted the underwriters a 30-day option to buy additional 900,000 common shares at the public offering price less underwriting discounts and commissions.

Cowen, SVB Leerink, Credit Suisse and RBC Capital Markets are acting as joint book-running managers for the offering.