SciSparc And AutoMax Call Off Merger [Yahoo! Finance]
SciSparc Ltd. (SPRC)
Company Research
Source: Yahoo! Finance
terminate their planned merger, officially ending a deal that would have expanded the company into Israel's automotive market. The Tel Aviv-based drug developer stated that the October 6, 2025, agreement outlines repayment terms for prior loans extended to AutoMax and supersedes the earlier merger pact. Both companies agreed to end all merger-related obligations and settle financial commitments. Loan Repayment Terms Under the new framework, AutoMax will repay $4.25 million, plus 9% annual interest, compounded yearly, in a single payment by January 1, 2028. A separate $2 million loan will be repaid in monthly installments of $60,000, beginning November 20, 2025, with an 8% annual interest rate and a one-time payment of $114,523 in accrued interest. Also Read: SciSparc Stock Shoots Up Over 89% After Hours: What's Going On? Background on the Merger The companies first agreed to merge in April 2024, with plans for SciSparc to acquire AutoMax through a reverse merger structure.
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SPRC
News
- SciSparc: Neurothera Labs Signs Non-Binding Term Sheet to Acquire Majority Stake in a Quantum Algorithm Bio Data Analysis CompanyGlobeNewswire
- SciSparc Plans on Entering the Multi-Billion-Dollar GERD Device Market with Acquisition of an Approved IP PortfolioGlobeNewswire
- CNN values your feedback [CNN]CNN
- SciSparc to Acquire Treasury of Patents for Innovative Medical Endoscopy Systems [Yahoo! Finance]Yahoo! Finance
- SciSparc to Acquire Treasury of Patents for Innovative Medical Endoscopy SystemsGlobeNewswire
SPRC
Sec Filings
- 12/4/25 - Form SCHEDULE
- 12/2/25 - Form 6-K
- 11/28/25 - Form 424B5
- SPRC's page on the SEC website