SciSparc Ltd. (NASDAQ:SPRC) (the "Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announces additional progress in connection with the proposed merger with AutoMax Motors Ltd., a leading vehicles importer and the exclusive importer of Anhui Jianghuai Automobile Group Corp., Ltd.-manufactured electric vehicles in Israel ("AutoMax"). 

As previously disclosed, in April 2024, SciSparc and AutoMax entered into a merger agreement, as amended, under which, SciSparc will acquire 100% of the share capital of AutoMax by way of a reverse merger between SciSparc Merger Sub Ltd., a wholly-owned subsidiary of the Company and AutoMax, with AutoMax surviving the merger as a wholly-owned subsidiary of the Company (the "Merger"). The closing of the Merger is subject to customary closing conditions, including shareholder approvals from both companies and Israeli court approval. The special meeting of SciSparc's shareholders to vote on the approval of the Merger will be held on August 25, 2025. The special meetings of AutoMax's shareholders and of AutoMax's shareholders who are not controlling shareholders or SciSparc, to vote on the approval of the Merger will be held on August 28, 2025.

On July 21, 2025, the U.S. Securities and Exchange Commission ("SEC") declared effective the registration statement on Form F-4 with respect to the Merger.