SciSparc Ltd. Announces Pricing Of $5.026M Private Placement
Portfolio Pulse from Benzinga Newsdesk
SciSparc Ltd. (NASDAQ:SPRC) has announced a private placement to raise approximately $5.026 million. The company will issue 1,930,108 units, each consisting of two Pre-Funded Warrants with an exercise price of $0.001 and a term of five years. The closing of the private placement is expected to occur on October 13, 2023. Aegis Capital Corp. is acting as the exclusive placement agent.
October 11, 2023 | 1:16 pm
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SciSparc's private placement to raise $5.026M could provide the company with additional capital for its operations. The issuance of Pre-Funded Warrants could potentially dilute existing shareholders.
The private placement will provide SciSparc with additional capital, which could be positive for the company's operations. However, the issuance of Pre-Funded Warrants could lead to dilution of existing shareholders, which might negatively impact the stock price. The net impact is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100