SciSparc Advances $1.85 million Loan to AutoMax, Following AutoMax's Direct Import Agreement with Major Chinese Vehicle Manufacturer [Yahoo! Finance]
SciSparc Ltd. (SPRC)
Company Research
Source: Yahoo! Finance
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 shares of its wholly-owned subsidiary AutoMax Leasing Ltd in favor of the Company. The Company, AutoMax and SciSparc Merger
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SPRC
News
- SciSparc receives FDA approval for trial for Tourette syndrome therapy [Yahoo! Finance]Yahoo! Finance
- SciSparc Secures FDA Green Light to US Launch of its Pivotal Phase IIb Clinical Trial for Breakthrough Tourette Syndrome Treatment [Yahoo! Finance]Yahoo! Finance
- SciSparc Secures FDA Green Light to US Launch of its Pivotal Phase IIb Clinical Trial for Breakthrough Tourette Syndrome TreatmentGlobeNewswire
- SciSparc Signs Non-Binding Letter of Intent to Sell Stake in MitoCareX [Yahoo! Finance]Yahoo! Finance
- SciSparc Signs Non-Binding Letter of Intent to Sell Stake in MitoCareXGlobeNewswire
SPRC
Sec Filings
- 11/4/24 - Form 6-K
- 10/23/24 - Form 6-K
- 10/22/24 - Form 6-K
- SPRC's page on the SEC website