SciSparc To Acquire AutoMax, A Strategic Leap Towards Industry Diversification
SciSparc To Acquire AutoMax, A Strategic Leap Towards Industry Diversification
Specialty clinical-stage pharmaceutical company SciSparc Ltd. (NASDAQ:SPRC) has entered into a merger agreement with AutoMax Motors Ltd., a vehicle importer company in Israel. Deal terms not disclosed.
The strategic move entails SciSparc securing full ownership of AutoMax and establishing a fresh subsidiary in Israel that will subsequently merge with AutoMax.
This merger aims to form a new entity with SciSparc shareholders owning slightly more than 50% of its capital, aligning with the company's strategy to seek value-enhancing opportunities. SciSparc's ongoing pharmaceutical operations will continue seamlessly after the merger.
Post-merger, AutoMax shares will convert to SciSparc ordinary share rights, with its stakeholders owning approximately 49.99% of the merged entity, subject to adjustments. SciSparc commits to a minimum of $4.25 million in net cash at deal closure.
Notably, both companies share a chairman Amitai Weiss, indicating a close relationship at the leadership level, underscoring the merger's role in SciSparc's diversification into the automotive industry.
Price Action: SPRC shares are trading higher by 6.88% at $1.79 on Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image sourced from Shutterstock
Specialty clinical-stage pharmaceutical company SciSparc Ltd. (NASDAQ:SPRC) has entered into a merger agreement with AutoMax Motors Ltd., a vehicle importer company in Israel. Deal terms not disclosed.
處於臨床階段的專業製藥公司ScisPARC Ltd.（納斯達克股票代碼：SPRC）已與以色列的汽車進口公司AutoMax Motors Ltd. 簽訂了合併協議。交易條款未披露。
The strategic move entails SciSparc securing full ownership of AutoMax and establishing a fresh subsidiary in Israel that will subsequently merge with AutoMax.
該戰略舉措需要ScisPARC獲得AutoMax的全部所有權，並在以色列建立新的子公司，該子公司隨後將與AutoMax合併。
This merger aims to form a new entity with SciSparc shareholders owning slightly more than 50% of its capital, aligning with the company's strategy to seek value-enhancing opportunities. SciSparc's ongoing pharmaceutical operations will continue seamlessly after the merger.
此次合併旨在組建一個新實體，ScisPARC的股東擁有略高於其50％的資本，這與公司尋求價值提升機會的戰略一致。合併後，ScisPARC正在進行的製藥業務將無縫繼續。
Post-merger, AutoMax shares will convert to SciSparc ordinary share rights, with its stakeholders owning approximately 49.99% of the merged entity, subject to adjustments. SciSparc commits to a minimum of $4.25 million in net cash at deal closure.
合併後，AutoMax的股票將轉換爲ScisPARC普通股權，其利益相關者擁有合併後實體約49.99％的股份，但須進行調整。ScisPARC承諾在交易完成時提供至少425萬美元的淨現金。
Notably, both companies share a chairman Amitai Weiss, indicating a close relationship at the leadership level, underscoring the merger's role in SciSparc's diversification into the automotive industry.
值得注意的是，兩家公司共用一名董事長阿米泰·魏斯，這表明在領導層關係密切，這凸顯了合併在ScisPARC向汽車行業多元化發展中的作用。
Price Action: SPRC shares are trading higher by 6.88% at $1.79 on Thursday.
價格走勢：週四，SPRC股價上漲6.88％，至1.79美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明： 該內容部分是在人工智能工具的幫助下製作的，並由Benzinga編輯審閱和發佈。
Image sourced from Shutterstock
圖片來自 Shutterstock
譯文內容由第三人軟體翻譯。
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