SciSparc Ltd: SciSparc AutoMax’s holders approve merger with

SciSparc Ltd: SciSparc AutoMax’s holders approve merger with

SciSparc Ltd. (SPRC) has received a significant boost as its shareholders have approved the proposed merger with AutoMax Motors Ltd. The approval comes after a special meeting of shareholders, which was held on August 28, 2025, to vote on the merger [1].

The merger, which was announced on April 11, 2024, will see SciSparc acquire 100 percent of AutoMax's share capital through a reverse merger. SciSparc Merger Sub Ltd., a subsidiary of SciSparc, will undertake the acquisition, with AutoMax continuing as a wholly-owned subsidiary [1].

The deal aligns with SciSparc's long-term strategy to diversify its portfolio and capitalize on the expanding electric vehicle market in Israel. By combining forces with AutoMax, a parallel vehicle importer, SciSparc aims to strengthen its market position and tap into new revenue streams [1].

In the pre-market hours following the announcement, SPRC's stock price surged by 7.03 percent, reaching $4.59 on the Nasdaq. This increase reflects investor confidence in the strategic move and the potential for growth in the electric vehicle sector [1].

The merger is a significant step forward for SciSparc, positioning the company to leverage AutoMax's expertise in vehicle imports while expanding its own capabilities in the electric vehicle market. As the merger proceeds, investors will be closely watching SciSparc's performance and the integration of AutoMax's operations into the broader SciSparc portfolio.

References:
[1] https://www.nasdaq.com/articles/scisparc-shareholders-approve-proposed-merger-israel-based-automax-motors