Press Release – New York, NY – March 5, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as the exclusive placement agent in a private placement of SciSparc Ltd., (OTCQB: SPRCY), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments.
The offering consisted of an aggregate of 1,152,628 Units that were sold to certain institutional and accredited investors as follows: (a) 916,316 units at an offering price of $7.07 per unit, consisting of 1 American Depositary Share (“ADS”), a Series A Warrant to purchase an equal number of Units purchased and a Series B Warrant to purchase half the number of Units and (b) 236,312 pre-funded units at a price of $7.069 per unit, consisting of 1 pre-funded warrant to purchase one ADS, a Series A Warrant to purchase an equal number of Units purchased and a Series B Warrant to purchase half the number of Units. The Series A Warrants have an exercise price of $7.07, and the Series B Warrants have an exercise price equal to $10.60. The Pre-Funded Warrants have an exercise price of $0.001 per full ADS. The gross proceeds from the offering were approximately $8.15 million.
The Sichenzia Ross Ference LLP team was led by partners Darrin M. Ocasio and Avital Perlman, and associate Matthew Siracusa.
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