SciSparc Signs Non-Binding Letter of Intent to Sell Stake in MitoCareX
SciSparc Ltd. (SPRC)
Company Research
Source: GlobeNewswire
The intended selling valuation represents an increase of 47% from the valuation at the time of SciSparc’s initial investment in MitoCareX Bio TEL AVIV, Israel, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (the "Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announced it has signed a non-binding letter of intent (“LOI”) to sell its entire ownership interest in MitoCareX Bio Ltd. ("MitoCareX"), the Company’s venture with Dr. Alon Silberman that focuses on drug discovery and development of cancer therapeutics by targeting the mitochondrial SLC25 protein family, to a publicly-traded company in the United States (“the Purchaser”). SciSparc currently owns 52.73% of the issued and outstanding share capital of MitoCareX. Pursuant to the terms of the LOI, initially, in exchange for transferring and selling to the Purchaser a number of ordinary shares of
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News
- SciSparc Signs Non-Binding Letter of Intent to Sell Stake in MitoCareX [Yahoo! Finance]Yahoo! Finance
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SPRC
Sec Filings
- 9/27/24 - Form 6-K
- 9/26/24 - Form F-4
- 9/26/24 - Form 6-K
- SPRC's page on the SEC website