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.

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