- SciSparc Ltd. (SPRC, Financial) is implementing a 1-for-21 reverse share split effective July 3, 2025.
- The company will reduce its outstanding shares from 11,225,751 to approximately 534,600 shares.
- The reverse split aims to maintain Nasdaq listing compliance by increasing the share price.
SciSparc Ltd. (SPRC), a clinical-stage pharmaceutical company dedicated to treating central nervous system disorders, has announced a 1-for-21 reverse share split effective as of the market open on July 3, 2025. This corporate action will see the company's outstanding shares significantly decrease from 11,225,751 to approximately 534,600 shares, with around 516,727 shares publicly held.
The reverse share split, sanctioned by shareholders at the company's Annual General Meeting on October 23, 2024, is designed to meet Nasdaq Capital Market's listing requirements, particularly concerning share price thresholds. Post-split, SciSparc's stock will continue trading under the symbol "SPRC" but with a new CUSIP number, M82618121.
Shareholders will experience no change in ownership percentage, barring minor adjustments for fractional shares. Any fractional shares resulting from the split will be rounded to the nearest whole share at the DTC participant level. Additionally, a proportionate adjustment will apply to both the exercise price and the number of shares issuable for all outstanding options and warrants.
Investors holding shares in brokerage accounts or book-entry form can expect automatic processing of the exchange by their brokers or custodians, and they need not take any action. This reverse split is purely a mathematical adjustment and does not change the company's business fundamentals or market capitalization.
SciSparc's decision to maintain its authorized share count at 75 million shares suggests a strategic move to retain flexibility for potential future capital raising, a common scenario for companies actively engaged in research and development. This reverse split is expected to help preserve trading liquidity and potentially broaden the investor base by maintaining compliance with Nasdaq's listing standards.
