SciSparc Reveals $20M Standby Equity Purchase Agreement
Portfolio Pulse from Benzinga Newsdesk
SciSparc Ltd. has entered into a $20 million standby equity purchase agreement with YA II PN, Ltd., managed by Yorkville Advisors Global. The agreement spans over 36 months, allowing YA to purchase SciSparc's shares at a 3% discount, subject to a 4.99% ownership cap.
January 24, 2024 | 12:44 pm
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POSITIVE IMPACT
SciSparc's new equity purchase agreement with Yorkville Advisors could provide financial flexibility and support the stock price by facilitating up to $20 million in funding over three years.
The agreement provides SciSparc with a significant amount of potential funding, which could be used for growth or operational needs. The ability to sell shares at a slight discount may attract investment and provide capital without immediate dilution concerns, potentially having a positive short-term impact on the stock price.
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