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SciSparc Ltd. February 2025 Filing: Major Legal Settlement Boosts Financial Flexibility

$SPRC
Form 6-K
Filed on: 2025-02-18
Source
SciSparc Ltd. February 2025 Filing: Major Legal Settlement Boosts Financial Flexibility

Here are the key insights extracted from the provided section of the financial report for SciSparc Ltd.:

  1. Type of Filing: The document is a Form 6-K, which is a report of a foreign private issuer filed with the SEC. This particular report is for the month of February 2025.
  2. Company Information:
  • Name: SciSparc Ltd.
  • Address: 20 Raul Wallenberg Street, Tower A, Tel Aviv 6971916, Israel.
  • Commission File Number: 001-38041.
  1. Key Event:
  • On February 18, 2025, SciSparc Ltd. issued a press release announcing a favorable settlement in a lawsuit it filed. The settlement resulted in cash compensation and a complete release from all commitments, royalties, and allegations related to its claimed core technology.
  1. Exhibit: The press release related to the settlement is included as Exhibit 99.1 in the report.
  2. Incorporation by Reference: The report indicates that it is incorporated by reference into multiple registration statements (Form F-3 and Form S-8) filed with the SEC. This makes the information in this report part of those filings.
  3. Signatory: The report is signed by Oz Adler, the Chief Executive Officer and Chief Financial Officer of SciSparc Ltd., confirming its validity as of the date of the report.

This report highlights a significant legal development for SciSparc Ltd., which may impact its financial standing and operational commitments moving forward. The cash compensation received could provide financial flexibility for the company.