SciSparc says AutoMax shareholders approve merger

SciSparc (SPRC)announced that AutoMax Motors convened its special general meetings, at which, among others, AutoMax’s shareholders voted on and approved the proposed merger with SciSparc. In addition, on August 26, 2025, SciSparc’s shareholders voted on and approved at an adjourned special general meeting, among others, the proposed merger. As previously disclosed, this strategic merger, pursuant to a definitive agreement entered into on April 11, 2024, as amended, will result in SciSparc acquiring 100% of AutoMax’s share capital by way of a reverse merger between SciSparc Merger Sub Ltd., a wholly-owned subsidiary of the Company and AutoMax, with AutoMax continuing as a wholly-owned subsidiary of the Company. Following the closing of the Merger, SciSparc shareholders are expected to hold approximately 50.01% of the combined company’s share capital. The approval by AutoMax’s shareholders marks a significant step toward enhancing SciSparc’s shareholder value by expanding SciSparc’s operations into the automotive sector, through the operations of AutoMax, which include the import and distribution of Anhui Jianghuai Automobile Group Corp. Ltd. electric vehicles and other vehicle categories. The closing of the Merger is subject to customary closing conditions, including the Israeli court approval.