Corporate ActionAug 10, 2026, 05:41 PM
Glucotrack Seeks Approval for Stock Issuances for Capital Raise
AI Summary
Glucotrack, Inc. will hold a Special Meeting of Stockholders on September 11, 2026, to seek approval for two significant stock issuance proposals. The first proposal involves the issuance of shares to White Lion Capital, LLC, under an ELOC Purchase Agreement for up to $50 million, including commitment shares and warrants. The second proposal concerns the issuance of shares related to Bridge Financing, which raised approximately $7.95 million. Both issuances require stockholder approval under Nasdaq Listing Rule 5635(d) as they may represent more than 20% of the company's outstanding common stock.
Key Highlights
- Special Meeting of Stockholders scheduled for September 11, 2026, to vote on stock issuances.
- Proposal 1 seeks approval for shares under ELOC Purchase Agreement with White Lion Capital, LLC, for up to $50,000,000.
- Proposal 1 includes 2,505,513 Commitment Shares and a Commitment Warrant for up to $10,000,000.
- Proposal 2 seeks approval for shares from Bridge Financing, raising approximately $7,950,000.
- Both proposals require Nasdaq Listing Rule 5635(d) approval due to potential issuance of over 20% of outstanding common stock.
- Failure to approve Proposal 1 will result in $50,000 liquidated damages for each 30-day period.
- As of August 5, 2026, there were 10,578,822 shares of common stock outstanding.
- The Board of Directors unanimously recommends voting "FOR" all proposals.
Price Impact
More from GCTK