GlucoTrack, Inc. Closes Offering and Private Placement, Holding Special Meeting for Stockholder Approval

GlucoTrack, Inc. (NASDAQ: GCTK) announced on November 12, 2024, that they had closed a best efforts public offering, comprising 2,437,340 shares of common stock, 4,756,900 pre-funded warrants, 7,194,240 Series A warrants, and 7,194,240 Series B warrants. Additionally, a private placement offering saw about $4,093,112 of debt converted to 2,640,717 shares of common stock, along with accompanying warrants.

The issuance of common warrant shares is contingent upon stockholder approval, which will be sought at a Special Meeting planned within 60 days of the Offering’s closure. Existing company stockholders have entered into support agreements, committing to vote in favor of the Issuance Proposal, the Concurrent Private Offering, and a potential reverse stock split.

It’s important to note that forward-looking statements have been included in this report, cautioning about factors that could lead to actual events differing from those anticipated. GlucoTrack advises against undue reliance on these statements, emphasizing that forward-looking statements are subject to change based on various factors.

As part of the filing, GlucoTrack also submitted a Form of Support Agreement as Exhibit 10.1. The company’s CEO, Paul Goode, signed the report on November 18, 2024.

This concludes the information disclosed in GlucoTrack, Inc.’s recent 8-K filing with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GlucoTrack’s 8K filing here.

GlucoTrack Company Profile

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain.