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SciSparc Ltd. January 2025 Report: Nasdaq Compliance Extension Insights

$SPRC
Form 6-K
Filed on: 2025-01-15
Source
SciSparc Ltd. January 2025 Report: Nasdaq Compliance Extension Insights

Based on the provided section of the financial report, here are the key insights and important information extracted:

  1. Report Type and Filing:
  • This is a Form 6-K report submitted by SciSparc Ltd. as a foreign private issuer under the Securities Exchange Act of 1934.
  1. Reporting Period:
  • The report is for the month of January 2025, specifically denoted as "Report No. 2."
  1. Company Information:
  • Name: SciSparc Ltd.
  • Principal Executive Offices Address: 20 Raul Wallenberg Street, Tower A, Tel Aviv 6971916, Israel.
  • Commission File Number: 001-38041.
  1. Compliance Update:
  • On January 15, 2025, SciSparc issued a press release announcing that they were granted a 180-day extension by Nasdaq to regain compliance with the minimum bid requirement. This indicates the company is currently facing challenges in meeting Nasdaq listing requirements but has been given additional time to rectify the situation.
  1. Exhibit Included:
  • The report includes Exhibit 99.1, which is the aforementioned press release dated January 15, 2025. This document provides further details on the compliance extension from Nasdaq.
  1. Registration Statements:
  • The report is incorporated by reference into the company’s registration statements filed on Form F-3 and Form S-8 with the SEC, indicating ongoing compliance and reporting obligations.
  1. Signatory:
  • The report is signed by Oz Adler, who serves as both the Chief Executive Officer and Chief Financial Officer of the company, adding credibility to the information provided.

Overall Insight: The report highlights a critical compliance issue for SciSparc Ltd. with Nasdaq, showcasing the company's efforts to maintain its listing status. The extension granted is a positive sign, indicating that the company has the opportunity to address its compliance challenges over the next 180 days. The report also reflects standard regulatory practices for foreign private issuers in the U.S. market.