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SciSparc Signs Non-Binding Letter of Intent for Spin Off of Advanced Clinical Stage Pharmaceutical Portfolio to Publicly Traded Company
SciSparc announced signing a non-binding letter of intent (LOI) to spin off its advanced clinical-stage pharmaceutical portfolio and equity stake in SciSparc Nutraceuticals to Miza III Ventures. Valued at $11.6 million, the assets will be exchanged for 63.3 million Miza shares and up to 48 million contingent rights. The deal's final terms will determine SciSparc's controlling stake in Miza, estimated between 75% and 84.53%. The transaction aligns with SciSparc's strategy to enhance shareholder value and follows a merger agreement with AutoMax Motors. Key portfolio assets include SCI-110 for Tourette syndrome and Alzheimer's disease, and SCI-210 for autism.
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