SciSparc And AutoMax Call Off Merger
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SciSparc Ltd. (NASDAQ:SPRC) has mutually terminated its planned merger with AutoMax Motors Ltd., officially ending the deal aimed at entering Israel’s automotive market. The agreement includes repayment terms for prior loans, with AutoMax set to repay $4.25 million by January 1, 2028, and a separate $2 million loan in monthly installments. Despite the merger cancellation, SciSparc will focus on its treatments for central nervous system disorders and continue its drug discovery initiatives.
Source: Benzinga The copyright of this article belongs to the original author/organization.
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