UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of July 2022

(Report No. 2)

 

Commission file number: 001-38041

 

SCISPARC LTD.

(Translation of registrant’s name into English)

 

20 Raul Wallenberg Street, Tower A,

Tel Aviv 6971916 Israel

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒ Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1):  __

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7):  __

 

 

 

 

 

 

CONTENTS

 

On July 6, 2022, SciSparc Ltd. (the “Company”) issued a press release titled “SciSparc Board of Directors to Promote Buyback Program of up to $1 Million”, a copy of which is furnished as Exhibit 99.1 with this report of foreign private issuer on Form 6-K.

 

This Report on Form 6-K is incorporated by reference into the registration statements on Form F-3 (File No. 333-233417 and File No. 333-248670) and on Form S-8 (File No. 333-225773) of the Company, filed with the SEC, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished

 

EXHIBIT INDEX

 

Exhibit No.    
99.1   Press release dated July 6, 2022, titled “SciSparc Board of Directors to Promote Buyback Program of up to $1 Million”.

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  SciSparc Ltd.
   
Date: July 7, 2022 By:  /s/ Oz Adler
    Name: Oz Adler
    Title: Chief Executive Officer &
Chief Financial Officer

 

 

2

 

Exhibit 99.1

 

 

SciSparc Board of Directors to Promote Buyback Program of up to $1 Million

 

TEL AVIV, Israel, July 6, 2022 /PRNewswire/ -- SciSparc Ltd. (Nasdaq: SPRC) (the “Company” or “SciSparc”), a specialty, clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced its board of directors authorized the Company to take actions to implement a $1 million buyback program for the Company’s ordinary shares, no par value (the “Ordinary Shares”).

 

The Company expects to formally approve the buyback in conjunction with the approval of its financial statements for the 6 months ended June 30, 2022, together with a financial advisor’s opinion to be obtained.

 

The Company is required to file a motion seeking a court approval in Israel for the buyback program, and the effectiveness of the buyback plan, if formally approved, will be contingent upon such court’s approval.

 

About SciSparc Ltd. (Nasdaq: SPRC):

 

SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette syndrome, for the treatment of Alzheimer’s disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of autism spectrum disorder and status epilepticus.

 

Forward-Looking Statements:

 

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, SciSparc is using forward-looking statements when it discusses the contemplated buyback program as there is no assurance that any of the conditions required by law for the effectiveness of the program will be satisfied and accordingly whether the buyback program will be initiated or its timing. Because such statements deal with future events and are based on SciSparc’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward- looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in SciSparc’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 28, 2022, and in subsequent filings with the SEC. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

 

Investor Contact:
IR@scisparc.com 
Tel: +972-3-6167055