SciSparc: AutoMax’s Shareholders Approve Merger with SciSparc
SciSparc Ltd. (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced that shareholders of both SciSparc and AutoMax Motors Ltd. have approved their proposed merger. The strategic reverse merger will result in SciSparc acquiring 100% of AutoMax's share capital, with SciSparc shareholders retaining 50.01% ownership of the combined company.
AutoMax, a leading parallel vehicle importer in Israel, specializes in importing and distributing electric vehicles from Anhui Jianghuai Automobile Group. SciSparc has already provided financial support to AutoMax through a $4.25 million bridge loan in 2024 and an additional $2 million loan in February 2025. The merger's completion remains subject to Israeli court approval.
SciSparc Ltd. (Nasdaq: SPRC), azienda farmaceutica in fase clinica, ha comunicato che gli azionisti sia di SciSparc sia di AutoMax Motors Ltd. hanno approvato la fusione proposta. Con questa fusione inversa strategica SciSparc acquisirà il 100% del capitale sociale di AutoMax, mentre gli azionisti di SciSparc manterranno una partecipazione del 50,01% nella società risultante.
AutoMax, importante importatore parallelo di veicoli in Israele, si occupa dell'importazione e distribuzione di veicoli elettrici del gruppo Anhui Jianghuai Automobile. SciSparc aveva già sostenuto AutoMax con un prestito ponte di 4,25 milioni di dollari nel 2024 e un ulteriore prestito di 2 milioni di dollari a febbraio 2025. Il perfezionamento della fusione è comunque subordinato all'approvazione del tribunale israeliano.
SciSparc Ltd. (Nasdaq: SPRC), compañía farmacéutica en etapa clínica, anunció que los accionistas tanto de SciSparc como de AutoMax Motors Ltd. aprobaron la fusión propuesta. La fusión inversa estratégica hará que SciSparc adquiera el 100% del capital social de AutoMax, y los accionistas de SciSparc mantendrán el 50,01% de la propiedad de la entidad combinada.
AutoMax, un destacado importador paralelo de vehículos en Israel, se especializa en la importación y distribución de vehículos eléctricos del grupo Anhui Jianghuai Automobile. SciSparc ya había apoyado financieramente a AutoMax con un préstamo puente de 4,25 millones de dólares en 2024 y un préstamo adicional de 2 millones de dólares en febrero de 2025. La finalización de la fusión está sujeta a la aprobación de un tribunal israelí.
SciSparc Ltd. (Nasdaq: SPRC), 임상 단계 제약회사인 SciSparc가 SciSparc와 AutoMax Motors Ltd.의 주주들이 제안된 합병을 승인했다고 발표했습니다. 이번 전략적 역합병으로 SciSparc는 AutoMax의 지분 100%를 인수하게 되며, SciSparc 주주들은 합병 후 회사의 50.01% 지분을 보유하게 됩니다.
AutoMax는 이스라엘의 주요 병행 수입업체로 Anhui Jianghuai Automobile 그룹의 전기차를 수입·유통하는 데 특화되어 있습니다. SciSparc는 이미 2024년에 425만 달러의 브리지론과 2025년 2월에 추가로 200만 달러 대출을 통해 AutoMax를 재정적으로 지원했습니다. 합병 완료는 이스라엘 법원의 승인을 조건으로 합니다.
SciSparc Ltd. (Nasdaq: SPRC), société pharmaceutique en phase clinique, a annoncé que les actionnaires de SciSparc et d'AutoMax Motors Ltd. ont approuvé la fusion proposée. Cette fusion inversée stratégique conduira SciSparc à acquérir 100 % du capital d'AutoMax, les actionnaires de SciSparc conservant 50,01 % de la propriété
AutoMax, principal importateur parallèle de véhicules en Israël, est spécialisé dans l'importation et la distribution de véhicules électriques du groupe Anhui Jianghuai Automobile. SciSparc avait déjà apporté un soutien financier à AutoMax via un prêt relais de 4,25 millions de dollars en 2024 et un prêt supplémentaire de 2 millions de dollars en février 2025. La réalisation de la fusion reste soumise à l'approbation d'un tribunal israélien.
SciSparc Ltd. (Nasdaq: SPRC), ein biopharmazeutisches Unternehmen in der klinischen Phase, gab bekannt, dass die Aktionäre sowohl von SciSparc als auch von AutoMax Motors Ltd. dem vorgeschlagenen Zusammenschluss zugestimmt haben. Durch diese strategische Reverse-Merger-Transaktion wird SciSparc 100 % des Kapitalanteils von AutoMax übernehmen, wobei die SciSparc-Aktionäre 50,01 % des kombinierten Unternehmens behalten.
AutoMax, ein führender paralleler Fahrzeugimporteur in Israel, ist auf den Import und Vertrieb von Elektrofahrzeugen der Anhui Jianghuai Automobile Group spezialisiert. SciSparc hatte AutoMax bereits finanziell unterstützt, und zwar mit einem Überbrückungskredit in Höhe von 4,25 Millionen US-Dollar im Jahr 2024 sowie einem weiteren Kredit über 2 Millionen US-Dollar im Februar 2025. Der Vollzug der Fusion steht unter dem Vorbehalt der Zustimmung eines israelischen Gerichts.
- Strategic diversification into the growing electric vehicle market in Israel
- SciSparc shareholders maintain majority control with 50.01% ownership
- Merger builds upon existing financial relationship with $6.25M total investment in AutoMax
- Potential for enhanced shareholder value through automotive sector expansion
- Significant deviation from core pharmaceutical business focus
- Merger completion still contingent on Israeli court approval
- Integration risks between pharmaceutical and automotive operations
Insights
SciSparc's strategic automotive sector expansion progresses with shareholder approvals, signaling significant business model transformation for the CNS-focused pharmaceutical company.
The merger between SciSparc and AutoMax Motors has cleared a critical hurdle with shareholders from both companies approving the transaction. This represents a dramatic strategic pivot for SciSparc, transforming from a clinical-stage CNS pharmaceutical company into a hybrid entity with significant automotive operations.
The reverse merger structure is particularly notable - SciSparc will acquire 100% of AutoMax's share capital, with current SciSparc shareholders retaining approximately
SciSparc has already demonstrated substantial financial commitment to this transition, providing AutoMax with a
The strategic rationale appears to center on entering Israel's growing electric vehicle market while maintaining pharmaceutical operations. This dual-sector approach creates an unusual corporate structure that may offer diversification benefits but also introduces operational complexity and potential focus dilution. While the companies have received shareholder approval, the merger still requires Israeli court approval before closing.
TEL AVIV, Israel, Aug. 28, 2025 (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 today that AutoMax Motors Ltd. ("AutoMax"), a leading parallel vehicle importer in Israel, convened today its special general meetings, at which, among others, AutoMax’s shareholders voted on and approved the proposed merger with SciSparc. In addition, on August 26, 2025, SciSparc’s shareholders voted on and approved at an adjourned special general meeting, among others, the proposed merger.
As previously disclosed, this strategic merger, pursuant to a definitive agreement entered into on April 11, 2024, as amended, will result in SciSparc acquiring
SciSparc has supported AutoMax’s growth with financial assistance, including by providing a
The closing of the Merger is subject to customary closing conditions, including the Israeli court approval.
About SciSparc Ltd. (Nasdaq: SPRC):
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive CBD: SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer’s disease and agitation; and SCI-210 for the treatment of ASD and status epilepticus. The Company also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seed oil-based products on the Amazon.com Marketplace.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, SciSparc is using forward-looking statements when it discusses that when it discusses that the approval by AutoMax’s shareholders marks a significant step toward enhancing shareholder value by expanding SciSparc’s operations into the automotive sector, that this Merger aligns with SciSparc’s long-term strategy to diversify its portfolio and capitalize on the expanding electric vehicle market in Israel and that the closing of the Merger is subject to customary closing conditions, including the Israeli court approval. The Company may not complete the Merger or, even if it does, such transaction may not unlock or enhance shareholder value. Because such statements deal with future events and are based on SciSparc’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in SciSparc’s Annual Report on Form 20-F filed with the SEC on April 24, 2025, and in subsequent filings with the SEC. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
Investor Contact:
IR@scisparc.com
Tel: +972 3-761-7108
FAQ
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