SciSparc Announces 1-for-9 Reverse Share Split
MWN-AI** Summary
SciSparc Ltd. (Nasdaq: SPRC) has announced a one-for-nine reverse share split, effective March 4, 2026. Following this split, the total outstanding shares will decrease significantly from approximately 5.1 million to about 565,000. Most of these shares, around 561,533, will be publicly held. The decision for the reverse share split was approved by shareholders during the Annual General Meeting on June 26, 2025, and it allows the board to execute the split within the outlined parameters.
The ordinary shares will continue to trade on the Nasdaq under the existing ticker "SPRC," beginning a split-adjusted basis once trading commences. Notably, there will be no change in the company’s authorized share capital, which remains at 2 billion shares. This reverse share split will affect all shareholders uniformly, maintaining their percentage of ownership excluding minor adjustments due to rounding of fractional shares.
In terms of stock options and warrants, there will be proportionate adjustments made to the exercise price and number of shares issuable. Any fractional shares resulting from the reverse split will be rounded to the nearest whole share, and shareholders in book-entry form or holding shares through a broker will not need to take any action, as the process will be managed automatically by their brokers.
SciSparc, through its subsidiary NeuroThera Labs Inc., focuses on developing cannabinoid pharmaceuticals, with current drug programs targeting conditions such as Tourette syndrome and Alzheimer’s disease. The company aims to enhance its portfolio with continuous advancements in the pharmaceutical industry. For shareholders seeking further information regarding the reverse share split, they can contact the company’s transfer agent, VStock Transfer, LLC.
MWN-AI** Analysis
SciSparc Ltd. (Nasdaq: SPRC) has announced a 1-for-9 reverse share split, effectively reducing its outstanding shares from approximately 5.1 million to around 565,500 by March 4, 2026. A reverse split often aims to bolster a company’s stock price, potentially attracting institutional investors who may be deterred by lower-priced stocks. After the split, the company plans to maintain its listing on the Nasdaq Capital Market under the same symbol, SPRC.
Investors should closely examine the implications of this corporate action. A higher share price could increase stock stability but also suggests that the company may have struggled with maintaining its market value amidst larger trends and potential operational setbacks. The decision for a reverse split, particularly at a 1-for-9 ratio, often indicates that the management believes it can enhance the share's attractiveness and market perception.
However, the benefits of this action can be two-sided. One the one hand, it theoretically improves liquidity, which could facilitate additional investment. On the other hand, the underlying issues that necessitated the reverse split—such as declining revenues or challenges in the clinical development of its cannabinoid-based pharmaceuticals—will still be in play.
Given SciSparc’s focus on clinical-stage drug developments via NeuroThera Labs, investors should assess the potential and progress of its relevant therapeutic candidates, such as SCI-110 and SCI-210. Future success of these products could significantly impact the share performance, especially post-split. But investors should also remain cautious about inherent risks in biotech investments, including regulatory hurdles and market competition.
In summary, while the reverse split may improve market visibility, investors should conduct thorough due diligence, paying attention to the company's operational progress in the competitive pharmaceutical landscape, investment fundamentals, and external market conditions before making any decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Following the reverse share split, the Company will have approximately 565,000 outstanding shares, out of which approximately 561,533 will be publicly held
Tel Aviv, Israel, March 02, 2026 (GLOBE NEWSWIRE) -- SciSparc Ltd. (“SciSparc” or the “Company”) (Nasdaq: SPRC), a company engaged in clinical-stage pharmaceutical developments through its majority-owned subsidiary NeuroThera Labs Inc., announced today that it intends to effect a one-for-nine (1-for-9) reverse share split (the “Reverse Share Split”) of the Company’s issued and outstanding ordinary shares, no par value per share (the “Ordinary Shares”), effective at the market open on March 4, 2026. The Ordinary Shares will continue to trade on the Nasdaq Capital Market under the existing trading symbol “SPRC” and will begin trading on a split-adjusted basis at the market open on March 4, 2026. The new CUSIP number for the Ordinary Shares following the Reverse Share Split will be M82618139.
The Reverse Share Split was approved by the Company’s shareholders at the Company’s Annual General Meeting of Shareholders held on June 26, 2025, to be effected at the board of directors’ discretion within the approved parameters.
The Reverse Share Split will not result in an adjustment to the authorized share capital of the Company under the Company’s amended and restated articles of association, as currently in effect (the “Articles”), which, as of the date hereof, consists of 2,000,000,000 Ordinary Shares.
The Reverse Share Split will affect all shareholders uniformly and will not alter any shareholder’s percentage of ownership interest in the Company’s Ordinary Shares, except for minor changes due to the treatment of fractional shares as described below. The number of issued and outstanding Ordinary Shares will be reduced from 5,089,501 Ordinary Shares to approximately 565,500 Ordinary Shares following the Reverse Share Split (subject to any further adjustments due to the treatment of fractional shares). In accordance with the Articles, no fractional Ordinary Shares will be issued as a result of the Reverse Share Split and all fractional Ordinary Shares shall be rounded to the nearest whole Ordinary Share, at the DTC participant level. In addition, a proportionate adjustment will be made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding options and warrants entitling the holders to purchase Ordinary Shares. No fractional Ordinary Shares will be issued upon exercise of warrants or options. As to any fraction of an Ordinary Share which a holder would otherwise be entitled to purchase upon exercise, the Company will round up to the nearest whole Ordinary Share, according to the terms of the warrant or option.
Shareholders holding their shares in book-entry form, through a brokerage account, or in “street name” are not required to take any action, as the exchange will be processed automatically by their respective brokers or custodians. For questions or additional information regarding the exchange process, shareholders are encouraged to contact the Company’s transfer agent, VStock Transfer, LLC with a mailing address of 18 Lafayette Place, Woodmere, New York 11598.
About SciSparc Ltd. (Nasdaq: SPRC):
The Company, through its majority-owned subsidiary NeuroThera Labs Inc., engages in clinical-stage pharmaceutical developments. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company, together with its majority-owned subsidiary NeuroThera Labs Inc., are currently engaged in the following drug development programs based on THC and/or non-psychoactive CBD: SCI-110 for the treatment of Tourette syndrome, for the treatment of Alzheimer’s disease and agitation; and SCI- 210 for the treatment of ASD and status epilepticus. The Company, through NeuroThera Labs Inc., also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seed oil-based products on the Amazon.com Marketplace.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements when discussing the anticipated effective date of the Reverse Share Split and the date that trading of the Ordinary Shares will begin on a split-adjusted basis. Since such statements deal with future events and are based on SciSparc’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in SciSparc’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 24, 2025, and in subsequent filings with the SEC. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
Investor Contact:
IR@scisparc.com
Tel: +972-3-6167055
FAQ**
How does the reverse share split of SciSparc Ltd. (Nasdaq: SPRC) affect shareholder value and liquidity in the market following the reduction from approximately 5 million to 565,000 outstanding shares?
What potential impacts on the company's stock price should investors expect after the reverse share split of SciSparc Ltd. (SPRC) takes effect on March 4, 2026?
Can management provide insights on how the reverse share split of SciSparc Ltd. (SPRC) aligns with its overall strategy for growth and development in the pharmaceutical sector?
How does the reverse share split affect the outstanding options and warrants for SciSparc Ltd. (Nasdaq: SPRC), and what should investors know about their treatment during this process?
**MWN-AI FAQ is based on asking OpenAI questions about SciSparc Ltd. (NASDAQ: SPRC).
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