Loan & DebtOct 22, 2026, 05:31 PM
Glucotrack Raises $2M Via Convertible Notes; Announces Reverse Stock Split
AI Summary
Glucotrack, Inc. has secured $2 million in financing through the issuance of senior secured convertible promissory notes with an aggregate principal amount of $2,564,102.65, reflecting a 22% original issue discount. The notes carry an 8% annual interest rate and mature in nine months, secured by company assets. Additionally, investors received warrants for 8.03 million shares. In a separate announcement, Glucotrack is implementing a 1-for-2 reverse stock split, effective October 26, 2026, to regain compliance with Nasdaq's minimum bid price requirement.
Key Highlights
- Glucotrack, Inc. issued $2.56M in senior secured convertible notes for $2M cash, a 22% discount.
- Notes bear 8% annual interest, mature in 9 months, and are secured by substantially all company assets.
- Investors received warrants to purchase 8.03M shares of common stock at an exercise price of $1.5975.
- The company announced a 1-for-2 reverse stock split effective October 26, 2026, to regain Nasdaq compliance.
- The reverse stock split aims to increase the stock's bid price to meet Nasdaq's $1.00 minimum requirement.
Price Impact
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