SciSparc Ltd. entered into a Securities Purchase Agreement with L.I.A. Pure Capital Ltd. on February 12, 2026, to issue convertible notes and warrants for up to $10 million in aggregate principal, with an initial closing for a $2.5 million note. This provides the company with a financing facility.
Key takeaways
SciSparc Ltd. entered into a Securities Purchase Agreement with L.I.A. Pure Capital Ltd. on February 12, 2026.
The agreement provides for the issuance of convertible notes with an aggregate principal amount of up to $10,000,000.
The initial closing involved the issuance of a convertible note with a principal amount of $2,500,000 for a purchase price of $2,025,000.
The convertible notes are issued with a 10% original issue discount and have an interest rate of 4% per annum, increasing to 14% upon an Event of Default.
The maturity date for the convertible notes is 28 months from the issuance date, with the option for the holder to extend.
Concurrently with each note issuance, the company will issue a warrant exercisable into ordinary shares to the buyer at no additional cost.