The latest announcement is out from SciSparc Ltd. ( (SPRC) ).
On February 25, 2025, SciSparc Ltd. entered into securities purchase agreements with investors to issue convertible debentures worth $4.2 million, convertible into ordinary shares. The company also signed a loan agreement with AutoMax Motors Ltd. to provide a $2 million loan to support AutoMax’s expansion into importing JAC electric vehicles. This agreement is part of a broader merger plan to acquire AutoMax, aiming to diversify into the automotive sector. The merger is contingent on customary closing conditions, including shareholder approvals.
More about SciSparc Ltd.
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company that focuses on developing therapies for central nervous system disorders. The company is engaged in drug development programs involving cannabinoid pharmaceuticals, targeting conditions such as Tourette Syndrome, Alzheimer’s disease, autism spectrum disorder, and pain management. SciSparc also holds a controlling interest in a subsidiary that sells hemp seed oil-based products on Amazon Marketplace.
YTD Price Performance: -5.13%
Average Trading Volume: 8,843,019
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.83M
Learn more about SPRC stock on TipRanks’ Stock Analysis page.