SciSparc to implement 1-for-21 reverse share split on July 3

Published 24/06/2025, 22:10
SciSparc to implement 1-for-21 reverse share split on July 3

TEL AVIV - SciSparc Ltd. (Nasdaq:SPRC) announced Tuesday it will implement a one-for-21 reverse share split effective July 3, 2025, reducing its outstanding ordinary shares from 11,225,751 to approximately 534,600. The micro-cap pharmaceutical company, currently valued at $3.37 million with shares trading at $0.32, has seen a significant 35.62% price increase over the past six months, according to InvestingPro data.

The clinical-stage pharmaceutical company, which focuses on developing therapies for central nervous system disorders, will continue trading on the Nasdaq Capital Market under the same SPRC symbol but with a new CUSIP number: M82618121. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 5.36 and holds more cash than debt on its balance sheet.

The reverse split was approved by shareholders at the company’s Annual General Meeting on October 23, 2024, giving the board discretion to implement it within approved parameters.

According to the company’s statement, the split will not alter shareholders’ percentage ownership interest except for minor adjustments due to fractional share treatment. No fractional shares will be issued, with all fractional shares rounded to the nearest whole share at the DTC participant level.

The company’s authorized share capital will remain unchanged at 75,000,000 ordinary shares. Proportionate adjustments will be made to the exercise price and number of shares issuable upon exercise of outstanding options and warrants.

Shareholders holding shares in book-entry form, through brokerage accounts, or in street name will not need to take action as the exchange will be processed automatically by their brokers or custodians.

SciSparc’s drug development programs focus on cannabinoid pharmaceuticals, including SCI-110 for Tourette Syndrome and Alzheimer’s disease, and SCI-210 for autism and status epilepticus.

The information in this article is based on a company press release statement.

In other recent news, SciSparc Ltd. announced it has secured a Japanese patent for a pharmaceutical combination that could enhance pain and fever treatment. This new patent covers a combination of paracetamol and palmitoylethanolamide (PEA), which may offer improved relief with lower doses and fewer side effects compared to standard paracetamol therapy. The company suggests that this innovation could potentially reduce the risk of side effects such as liver damage while providing better outcomes for various types of pain and fever. Separately, SciSparc has scheduled its Annual General Meeting of Shareholders for June 25, 2025. The meeting will address standard corporate matters, and shareholders on record as of May 27, 2025, will be eligible to participate. The company has ensured all necessary documentation is in order, adhering to SEC regulations for foreign private issuers. This announcement underscores SciSparc’s commitment to transparency and regulatory compliance, with detailed information available in their SEC filings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.