O'Donnell Niall 4
4 · SPRUCE BIOSCIENCES, INC. · Filed Oct 16, 2020
Insider Transaction Report
Form 4
O'Donnell Niall
Director
Transactions
- Purchase
Common Stock
2020-10-14$15.00/sh+250,000$3,750,000→ 695,905 total(indirect: By RiverVest Venture Fund IV, L.P.) - Conversion
Series B Preferred Stock
2020-10-14−2,916,664→ 0 total(indirect: By RiverVest Venture Fund IV, L.P.)→ Common Stock (445,905 underlying) - Conversion
Common Stock
2020-10-14+445,905→ 445,905 total(indirect: By RiverVest Venture Fund IV, L.P.)
Footnotes (3)
- [F1]Each share of Series B Preferred Stock automatically converted into 0.152881822351322 shares of the Issuer's common stock upon the closing of the Issuer's initial public offering on October 14, 2020 (on an adjusted basis, after giving effect to the 1-for-6.541 reverse stock split of the common stock effected by the Issuer on October 2, 2020). The shares have no expiration date.
- [F2]RiverVest Venture Partners IV, L.P. is the general partner of RiverVest Venture Fund IV, L.P. The Reporting Person is a manager of RiverVest Venture Partners IV, LLC, the sole general partner of RiverVest Venture Partners IV, L.P., and as a result may be deemed to share dispositive voting and investment power with respect to the shares held by RiverVest Venture Partners IV, L.P. The Reporting Person disclaims beneficial ownership of all shares held by RiverVest Venture Partners IV, L.P. except to the extent of his pecuniary interests therein.
- [F3]The shares were purchased in the Issuer's initial public offering.