StockWatch
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Medical/Dental Instruments
Loan & DebtJul 27, 2026, 04:32 PM

Glucotrack Enters $900K Debt-to-Equity Exchange Agreement

AI Summary

Glucotrack, Inc. entered into an Exchange Agreement on July 22, 2026, with an investor. This agreement partitions a new $900,000 promissory note from an existing $3,600,000 note, which had been previously reduced by $1,588,000 through prior exchanges. The investor may exchange the $900,000 Partitioned Note for shares of the company's common stock, with the number of shares determined by a 'Minimum Price' formula. The exchange is subject to a 9.99% beneficial ownership limitation and involves no additional consideration from the investor.

Key Highlights

  • Glucotrack entered an Exchange Agreement with an investor on July 22, 2026.
  • A new $900,000 promissory note was partitioned from an existing $3,600,000 note.
  • The original note was previously reduced by $600,000 and $988,000.
  • The investor can exchange the $900,000 Partitioned Note for common stock.
  • Exchange shares are calculated by dividing the tranche amount by the 'Minimum Price'.
  • Issuance of shares is subject to a 9.99% beneficial ownership limitation.