Scisparc provides updates regarding the non-binding letter of intent to acquire leading vehicle importer company in israel

Tel aviv, israel, dec. 07, 2023 (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 today updates regarding the negotiation following the signing of a non-binding letter of intent ("loi") with a leading vehicle importer company in israel (the "target company"), on november 22, 2023. according to the new negotiated terms, the company will acquire 100% of the target company and will establish a new wholly-owned israeli subsidiary, which would in turn merge with and into the target company (the “acquisition”). following the acquisition, it is contemplated that scisparc shareholders will hold approximately 50.01% of the share capital of the post-closing combined company (the “combined company”), compared to 20%, as reflected in the previous announcement.
SPRC Ratings Summary
SPRC Quant Ranking