M&A
confidence high
sentiment positive
materiality 0.75
N2OFF signs definitive agreement to acquire MitoCareX Bio in stock-cash deal
Nexentis Technologies Inc.
- N2OFF will pay $700,000 cash to SciSparc for 4,961 shares and issue common stock totaling 40% of fully diluted capital to all sellers.
- Sellers eligible for milestone-based issuance of up to 25% additional common stock and 30% of N2OFF financing proceeds capped at $1.6M over 5 years.
- N2OFF commits initial $1M investment in MitoCareX plus ongoing funding; MitoCareX becomes wholly-owned subsidiary upon closing.
- Transaction subject to N2OFF stockholder approval; board members Amitay Weiss and Liat Sidi also serve on SciSparc board (related party).