Alyeska Group (SPRB) discloses 61,670-share position, 4.49% of float

Rhea-AI Filing Summary

Spruce Biosciences (SPRB) ownership update: Alyeska Investment Group, L.P. and related filers report beneficial ownership of 61,670 shares of common stock, equal to 4.49% of the class as of March 31, 2026. The holding comprises 21,671 common shares, 9,999 shares issuable upon exercise of warrants, and 30,000 shares acquired in a private placement. The filing cites 1,372,043 shares outstanding per a Form 424B5 dated March 9, 2026. Alyeska Investment Group, L.P. discloses shared voting and dispositive power for the 61,670 shares, and Anand Parekh is identified as CEO of Alyeska Investment Group, L.P.; he disclaims beneficial ownership of certain shares held by Alyeska Master Fund, L.P.

Insights

Institutional Ownership Analyst

Routine 13G/A reports a sub-5% stake held via manager and fund entities.

The filing documents a 61,670-share position equal to 4.49% of common stock as of March 31, 2026, with detailed component counts: common shares, warrants, and private-placement shares. The ownership is reported as shared voting and dispositive power through Alyeska entities.

Disclosure ties the outstanding share base to a Form 424B5 dated March 9, 2026. Timing and cash-flow treatment for the private placement are not detailed in the excerpt; subsequent filings would provide additional transfer or exercise information.

Corporate Governance Specialist

Joint filing and disclaimer language clarify attribution and manager control.

The statement is filed jointly by Alyeska Investment Group, L.P., Alyeska Fund GP, LLC, and Anand Parekh under Rule 13d-1(k). It discloses that Alyeska Investment Group acts as investment manager for Alyeska Master Fund, L.P., exercising voting and investment control.

The filing notes Mr. Parekh may be deemed beneficial owner of fund-held shares but includes his disclaimer; this is standard attribution language that preserves entity-level reporting while acknowledging managerial connections.

Key Figures

Beneficial ownership: 61,670 shares Percent of class: 4.49% Common shares held: 21,671 shares +3 more

6 metrics

Beneficial ownership 61,670 shares as of March 31, 2026

Percent of class 4.49% based on 1,372,043 shares outstanding per Form 424B5 dated March 9, 2026

Common shares held 21,671 shares component of the 61,670 total

Warrants exercisable 9,999 shares issuable upon exercise, component of the 61,670 total

Private placement shares 30,000 shares acquired in a private placement, component of the 61,670 total

Shares outstanding cited 1,372,043 shares per Form 424B5 dated March 9, 2026

Key Terms

beneficially own, Form 424B5, private placement, Rule 13d-1(k), +1 more

5 terms

beneficially own regulatory

"As of March 31, 2026, the Reporting Persons beneficially own 61,670 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Form 424B5 regulatory

"The number of shares of Common Stock outstanding (1,372,043) is based on the Form 424B5 dated March 9, 2026"

Form 424B5 is a U.S. Securities and Exchange Commission filing that presents the final prospectus for a registered securities offering, showing the concrete terms investors will get — such as share count, price, underwriting fees, and intended use of proceeds. It matters because it gives buyers the definitive, legally required details they need to evaluate how an offering will affect ownership, share value and potential dilution, like reading the final menu before placing an order.

private placement financial

"30,000 shares acquired in a private placement"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

Rule 13d-1(k) regulatory

"JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k)"

warrants financial

"9,999 shares issuable upon exercise of warrants"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Spruce Biosciences, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

85209E208

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 85209E208

1

Names of Reporting Persons

Alyeska Investment Group, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 61,670.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,670.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,670.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.49 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 85209E208

1

Names of Reporting Persons

Alyeska Fund GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 61,670.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,670.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,670.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.49 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 85209E208

1

Names of Reporting Persons

Anand Parekh

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 61,670.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,670.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,670.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.49 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Spruce Biosciences, Inc.
(b)	Address of issuer's principal executive offices: 611 Gateway Boulevard, Suite 740, South San Francisco, California 94080
Item 2.
(a)	Name of person filing: (i) Alyeska Investment Group, L.P. (ii) Alyeska Fund GP, LLC (iii) Anand Parekh
(b)	Address or principal business office or, if none, residence: (i) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (ii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (iii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601
(c)	Citizenship: (i) Alyeska Investment Group, L.P. - Delaware (ii) Alyeska Fund GP, LLC - Delaware (iii) Anand Parekh - United States of America
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 85209E208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 61,670
(b)	Percent of class: 4.49%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 61,670
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 61,670
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Alyeska Investment Group, L.P.

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	05/15/2026

Alyeska Fund GP, LLC

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	05/15/2026

Anand Parekh

Signature:	Anand Parekh
Name/Title:	Anand Parekh | Self
Date:	05/15/2026

Exhibit Information

As of March 31, 2026, the Reporting Persons beneficially own 61,670 shares of Common Stock, consisting of (i) 21,671 shares of Common Stock, (ii) 9,999 shares issuable upon exercise of warrants, and (iii) 30,000 shares acquired in a private placement. The number of shares of Common Stock outstanding (1,372,043) is based on the Form 424B5 dated March 9, 2026. Position held by Alyeska Master Fund, L.P. Alyeska Investment Group, L.P., as investment manager, exercises voting and investment control over the shares held by Alyeska Master Fund, L.P. Anand Parekh, as Chief Executive Officer of Alyeska Investment Group, L.P., may be deemed the beneficial owner of such shares. Mr. Parekh disclaims beneficial ownership of such shares. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

FAQ

What stake does Alyeska report in Spruce Biosciences (SPRB)?

Alyeska reports beneficial ownership of 61,670 shares, representing 4.49% of the class. The filing breaks this into 21,671 common shares, 9,999 warrants exercisable into common, and 30,000 private placement shares.

How many Spruce shares were outstanding for this filing (SPRB)?

The filing cites 1,372,043 shares outstanding based on a Form 424B5 dated March 9, 2026. That outstanding count is used as the denominator for the reported 4.49% ownership percentage.

Who filed the Schedule 13G/A for SPRB and why are multiple entities listed?

The statement is filed jointly by Alyeska Investment Group, L.P., Alyeska Fund GP, LLC, and Anand Parekh under Rule 13d-1(k). Joint filing reflects shared reporting responsibilities and manager/fund relationships.

Do the filers claim sole voting or dispositive power over the 61,670 shares?

No; the filing reports 0 sole voting or dispositive power and discloses 61,670 in shared voting and shared dispositive power. This indicates control is reported as shared among the named entities.

What components make up Alyeska's 61,670-share position in SPRB?

The position consists of 21,671 common shares, 9,999 shares issuable upon exercise of warrants, and 30,000 shares acquired in a private placement, as of March 31, 2026