SciSparc Ltd., a clinical-stage pharmaceutical company, has announced a pending merger with AutoMax Motors Ltd., an Israeli vehicle import and marketing firm, on September 26, 2024. The merger, which is awaiting shareholder and court approval, is expected to close in Q4 2024. It will result in AutoMax shareholders owning roughly 49.99% of the combined entity, while SciSparc's shareholders will own about 50.01%. The board of SciSparc has given unanimous support to the agreement, advising shareholders to vote for the merger. AutoMax has secured a tax ruling in Israel that could postpone capital gains tax for its shareholders. However, the merger faces risks, including the potential non-realization of anticipated benefits and the impact of the ongoing conflict between Israel and Hamas. SciSparc has a history of not paying dividends and does not plan to pay any in the near future. The merger is a significant move for both companies and carries various tax implications for shareholders.

SciSparc Ltd., a clinical-stage pharmaceutical company, has announced a pending merger with AutoMax Motors Ltd., an Israeli vehicle import and marketing firm, on September 26, 2024. The merger, which is awaiting shareholder and court approval, is expected to close in Q4 2024. It will result in AutoMax shareholders owning roughly 49.99% of the combined entity, while SciSparc's shareholders will own about 50.01%. The board of SciSparc has given unanimous support to the agreement, advising shareholders to vote for the merger. AutoMax has secured a tax ruling in Israel that could postpone capital gains tax for its shareholders. However, the merger faces risks, including the potential non-realization of anticipated benefits and the impact of the ongoing conflict between Israel and Hamas. SciSparc has a history of not paying dividends and does not plan to pay any in the near future. The merger is a significant move for both companies and carries various tax implications for shareholders.