Summary by Futu AI
SciSparc Ltd., a foreign private issuer, has announced progress in its merger with AutoMax Motors Ltd., as detailed in a Form 6-K report filed with the U.S. Securities and Exchange Commission for August 2024. The Jerusalem District Court in Israel has approved AutoMax's petition to hold special class meetings of its shareholders to vote on the merger with SciSparc. This court approval is a step forward in the merger process, which was initially disclosed in a prior 6-K report on April 11, 2024. The merger, subject to conditions including shareholder approvals from both companies, would result in AutoMax becoming a wholly-owned subsidiary of SciSparc. The company will file a registration statement and a proxy statement with the SEC, which will contain important information for investors and securityholders. The documents will be available on the SEC's website and SciSparc's investor relations page. The merger is contingent upon the satisfaction of various conditions outlined in the Merger Agreement.