SciSparc draws $3M from $10M convertible note facility
What's the deal? SciSparcDealroom has a profile for this one. Try Dealroom →, an Israel-based biopharmaceutical company listed on the Nasdaq, has issued a $3 million convertible promissory note and an accompanying warrant to institutional investor L.I.A. Pure Capital. The company disclosed the terms in a Form 6-K filed with the Securities and Exchange Commission on November 3, 2026.
The fine print: SciSparc received $2.55 million in cash for the note — 85% of its principal — under a securities purchase agreement allowing up to $10 million in notes. That leaves $7 million undrawn, with no obligation to draw it.
What are the terms? The note carries 4% annual interest, rising to 14% on default, and is repayable in ten monthly installments from May 2028. The accompanying warrant covers up to 11,457,269 ordinary shares at $0.5237 each, expiring November 2, 2029.
What's the money for? SciSparc intends to use the net proceeds for working capital and general corporate purposes. The holder may convert at the lower of $0.5237 or 85% of the lowest 20-day volume-weighted average price, subject to a $0.11592 floor and a 4.99% ownership cap.
Why now? The deal continues SciSparc's reliance on one institutional holder. In February 2026, L.I.A. Pure Capital arranged a convertible-note facility of up to $10 million, and in October the company cut the exercise price on existing warrants to raise about $406,000.
The signal: At roughly $3 million, this sits near the bottom of comparable raises — a structured, potentially dilutive financing rather than a fresh strategic investment. Its real significance hinges on cash proceeds, conversion terms, and how much of the remaining facility SciSparc eventually taps.
Read more: kalkine.com
Image credit: Generated with Gemini
