Novo Holdings A/S - May 19, 2021 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role: 10%+ Owner
Signature: /s/ Peter Haahr, Chief Financial Officer of Novo Holdings A/S
Stock symbol: SPRB
Transactions as of: May 19, 2021
Transactions value $: -$6,602,500
Form type: 4
Date filed: 5/21/2021, 04:32 PM
Next filing: Jun 3, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPRB	COMMON STOCK	Sale	-$6.6M	-475K	-9.52%	$13.90	4.51M	May 19, 2021	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The securities were sold as a block sale broker transaction.

Remarks:

Novo Holdings A/S is a Danish limited liability company. The board of directors of Novo Holdings A/S (the "Novo Board") has shared investment and voting control over the securities of the Issuer held by Novo Holdings A/S (the "Shares") and may exercise such control only with the support of a majority of the Novo Board. As such, no individual member of the Novo Board is deemed to hold any beneficial ownership or reportable pecuniary interest in the Shares.