SciSparc Advances $1.85 million Loan to AutoMax, Following AutoMax’s Direct Import Agreement with Major Chinese Vehicle Manufacturer
SciSparc Ltd. (SPRC)
Company Research
Source: GlobeNewswire
To date, SciSparc has advanced $4.25 million to Automax under the Bridge Loan agreement and amendments thereto TEL AVIV, Israel, Sept. 11, 2024 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced that it had entered into a second amendment (the “Second Amendment”) to that certain bridge loan agreement, dated January 14, 2024, and as amended on June 9, 2024, (the “Bridge Loan Agreement”) with AutoMax Motors Ltd. (“AutoMax”). Pursuant to the Second Amendment, the Company extended an additional loan in the amount of $1.85 million to AutoMax under terms similar to the Bridge Loan Agreement, bringing the total bridge loan amount to $4.25 million (the “Loan Amount”). In consideration for the Loan Amount, AutoMax established a first ranking fixed charge security interest on AutoMax’s share
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SPRC
Sec Filings
- 2/13/25 - Form F-4/A
- 2/4/25 - Form 6-K
- 1/21/25 - Form POS
- SPRC's page on the SEC website