SciSparc Converts $2.02M Note at $1.50, Issuing ~1.35M Shares With No Cash Proceeds

summarizeSummary

SciSparc is converting a $2.02M note held by L.I.A Pure Capital into roughly 1.35M shares at $1.50 each, eliminating the debt but adding dilution with no cash raised. The shares are registered for resale, and closing is expected October 16, 2026.

check_boxKey Events · Financing and Capital Events · SPRC

• Note Converted at $1.50 Per Share

  SciSparc agreed to convert the full $2,023,039.21 outstanding principal and interest on its February 12, 2026 convertible note into ordinary shares at $1.50 each.

• ~1.35M Shares Issued, No Cash Raised

  The conversion yields approximately 1,348,693 shares ($2,023,039.21 / $1.50). The company receives no cash proceeds — this only retires debt.

• Conversion Price Below Market

  The $1.50 conversion price is below the $4.31 market price as of today, meaning the holder receives shares at a discount to the current quote.

• Shares Registered for Resale

  The shares issuable on conversion are covered by an effective Form F-3 registration statement (File No. 333-293533), so the holder can resell them freely.

auto_awesomeAnalysis · SPRC · Life Sciences

SciSparc is retiring a $2.02M convertible note by converting it into roughly 1.35M ordinary shares at $1.50 each — well below today's $4.31 price. No cash comes in; the debt simply leaves the balance sheet. The conversion adds about 1.35M shares to the count, meaningful dilution for a company this small, and it lands just two weeks after the H1 2026 report warned SciSparc may not survive a year on current cash. The holder, L.I.A Pure Capital, is effectively swapping debt for equity it can resell under an already-effective F-3 registration statement, so the shares are freely tradable and could pressure the stock. Closing is expected on or about October 16, 2026.