SciSparc sets shareholder vote dates for AutoMax merger\n\nSciSparc Ltd. (NASDAQ:SPRC), a micro-cap pharmaceutical company with a market capitalization of $3.6 million, announced Wednesday that shareholder meetings to approve its proposed merger with AutoMax Motors Ltd. have been scheduled for late August, marking further progress in the transaction. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for this strategic move.\n\nSciSparc shareholders will vote on the merger on August 25, while AutoMax shareholders will hold their vote on August 28, according to a company press release. The U.S. Securities and Exchange Commission declared the registration statement on Form F-4 effective on July 21. While the stock has seen a 16% decline over the past week, InvestingPro analysis suggests the company is currently undervalued, with analysts forecasting revenue growth of 17% for the coming year.\n\nThe clinical-stage pharmaceutical company, which focuses on central nervous system disorder treatments, first announced the merger agreement with AutoMax in April 2024. Under the terms of the deal, SciSparc will acquire 100% of AutoMax’s share capital through a reverse merger, with AutoMax surviving as a wholly-owned subsidiary of SciSparc.\n\nAutoMax is an electric vehicle importer in Israel and holds exclusive rights to import vehicles manufactured by Anhui Jianghuai Automobile Group Corp., Ltd.\n\nThe transaction remains subject to several closing conditions, including approval from shareholders of both companies and authorization from an Israeli court.\n\nSciSparc currently develops cannabinoid-based pharmaceutical treatments, including SCI-110 for Tourette Syndrome and Alzheimer’s disease, and SCI-210 for autism spectrum disorder and status epilepticus. The company also owns a controlling interest in a subsidiary that sells hemp seed oil-based products on Amazon. With a current ratio of 5.36, the company maintains strong liquidity to support its operations. InvestingPro subscribers have access to 10+ additional financial insights about SPRC’s growth potential and market position.\n\nIn other recent news, Clearmind Medicine Inc. announced the filing of a new international patent application for a combination therapy targeting obesity and metabolic dysfunction-associated steatotic liver disease. This patent application involves a collaboration with SciSparc Ltd. and covers the combination of MEAI and Palmitoylethanolamide. Meanwhile, SciSparc Ltd. announced its plan to implement a one-for-21 reverse share split effective July 3, 2025, which will significantly reduce its outstanding ordinary shares. \n\nAdditionally, SciSparc has secured a Japanese divisional patent for a pharmaceutical combination aimed at improving pain and fever treatment. This patent outlines a combination of paracetamol and Palmitoylethanolamide, potentially offering enhanced relief with lower doses and fewer side effects. SciSparc also announced its Annual General Meeting of Shareholders scheduled for June 25, 2025, where standard corporate matters will be addressed. Shareholders on record as of May 27, 2025, will be eligible to vote at this meeting.\n\nThis article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

SciSparc sets shareholder vote dates for AutoMax merger By Investing.com

SciSparc Ltd. (NASDAQ:SPRC), a micro-cap pharmaceutical company, announced shareholder vote dates for its proposed merger with AutoMax Motors Ltd. The merger, which involves a reverse acquisition, is set to proceed with shareholder approvals and Israeli court authorization. SciSparc, focused on central nervous system treatments, will acquire 100% of AutoMax, an electric vehicle importer in Israel. The transaction faces closing conditions, including regulatory approvals. Additional news includes SciSparc's patent filings, a share split, and a June 2025 shareholder meeting.