SciSparc Ltd. (NASDAQ:SPRC) entered into a securities purchase agreement with a single healthcare-focused institutional investor for aggregate gross proceeds of approximately $10 million, before deducting fees to the placement agent and other offering expenses payable by the company.
In connection with the offering, the company will issue 3.55 million units and pre-funded units at a purchase price of $2.82 per unit, priced at-the-market under Nasdaq rules. Each unit and pre-funded unit consist of one ordinary share and two non-tradable warrants each exercisable for one ordinary share for $2.57. The warrants have a term of five years from the issuance date. No actual units will be issued in the offering.
