SciSparc Ltd. and AutoMax Motors Amend Loan Agreements Following Termination of Merger, Establish New Repayment Terms

Reuters

2025/10/06

<a href="https://laohu8.com/S/SPRC">SciSparc Ltd.</a> and AutoMax Motors Amend Loan Agreements Following Termination of Merger, Establish New Repayment Terms

**SciSparc Ltd. Announces Amended Loan Repayment Agreements with AutoMax Motors** TEL AVIV, Israel, Oct. 6, 2025 - SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company, has announced a new framework agreement regarding its financial arrangements with AutoMax Motors Ltd. As part of the agreement, the companies have mutually terminated their previous merger plans and established clear terms for the repayment of outstanding loans. Under the new agreement, AutoMax will repay a $4.25 million loan from SciSparc in a single lump-sum payment, including 9% annual interest, by January 1, 2028. In addition, a separate $2 million loan will be repaid in monthly installments of $60,000 starting November 20, 2025, with 8% annual interest. Accrued interest of approximately $114,523 on the second loan will be paid upfront. The agreement formalizes the repayment structure and resolves previous commitments between the companies.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Scisparc Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9540536-en) on October 06, 2025, and is solely responsible for the information contained therein.

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(Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company, has announced a new framework agreement regarding its financial arrangements with AutoMax Motors Ltd. As part of the agreement, the companies have mutually terminated their previous merger plans and established clear terms for the repayment of outstanding loans. Under the new agreement, AutoMax will repay a $4.25 million loan from SciSparc in a single lump-sum payment, including 9% annual interest, by January 1, 2028. In addition, a separate $2 million loan will be repaid in monthly installments of $60,000 starting November 20, 2025, with 8% annual interest. Accrued interest of approximately $114,523 on the second loan will be paid upfront. 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(Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company, has announced a new framework agreement regarding its financial arrangements with AutoMax Motors Ltd. As part of the agreement, the companies have mutually terminated their previous merger plans and established clear terms for the repayment of outstanding loans. Under the new agreement, AutoMax will repay a $4.25 million loan from SciSparc in a single lump-sum payment, including 9% annual interest, by January 1, 2028. In addition, a separate $2 million loan will be repaid in monthly installments of $60,000 starting November 20, 2025, with 8% annual interest. Accrued interest of approximately $114,523 on the second loan will be paid upfront. The agreement formalizes the repayment structure and resolves previous commitments between the companies.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Scisparc Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9540536-en) on October 06, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B3QW5Z07.USD","symbol_name":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251006:nNDL84gX3f:1","article_id":"2573367641","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2573367641","pubTimestamp":1759747212,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"**SciSparc Ltd. Announces Amended Loan Repayment Agreements with AutoMax Motors** TEL AVIV, Israel, Oct. 6, 2025 - SciSparc Ltd. , a specialty clinical-stage pharmaceutical company, has announced a new framework agreement regarding its financial arrangements with AutoMax Motors Ltd. As part of the agreement, the companies have mutually terminated their previous merger plans and established clear terms for the repayment of outstanding loans. Under the new agreement, AutoMax will repay a $4.25 million loan from SciSparc in a single lump-sum payment, including 9% annual interest, by January 1, 2028. In addition, a separate $2 million loan will be repaid in monthly installments of $60,000 starting November 20, 2025, with 8% annual interest. Accrued interest of approximately $114,523 on the second loan will be paid upfront. 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Announces Amended Loan Repayment Agreements with AutoMax Motors** TEL AVIV, Israel, Oct. 6, 2025 - SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company, has announced a new framework agreement regarding its financial arrangements with AutoMax Motors Ltd. As part of the agreement, the companies have mutually terminated their previous merger plans and established clear terms for the repayment of outstanding loans. Under the new agreement, AutoMax will repay a $4.25 million loan from SciSparc in a single lump-sum payment, including 9% annual interest, by January 1, 2028. In addition, a separate $2 million loan will be repaid in monthly installments of $60,000 starting November 20, 2025, with 8% annual interest. Accrued interest of approximately $114,523 on the second loan will be paid upfront. The agreement formalizes the repayment structure and resolves previous commitments between the companies.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Scisparc Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9540536-en) on October 06, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}