0001193125-25-234516 Sample Contracts

PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK SPRUCE BIOSCIENCES, INC.
Pre-Funded Warrant Agreement • October 8th, 2025 • Spruce Biosciences, Inc. • Pharmaceutical preparations • New York

THIS PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, [______] or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and until 5:00 p.m. (New York City time) on October [______], 2030 (the “Termination Date”) but not thereafter, to subscribe for and purchase from Spruce Biosciences, Inc., a Delaware corporation (the “Company”), up to [______] shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

FORM OF SECURITIES PURCHASE AGREEMENT
Securities Purchase Agreement • October 8th, 2025 • Spruce Biosciences, Inc. • Pharmaceutical preparations • New York

This SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of October 7, 2025, is made by and among SPRUCE BIOSCIENCES, INC., a Delaware corporation (the “Company”), and the Purchasers listed on Exhibit A hereto, together with their respective successors and assigns (each, a “Purchaser” and collectively, the “Purchasers”).