Glucotrack Raises $2M via Private Placement of Convertible Notes and Announces 1-for-2 Reverse Stock Split
Glucotrack, Inc. entered into a securities purchase agreement on October 22, 2026, issuing senior secured convertible promissory notes in aggregate principal amount of $2,564,102.65 for cash proceeds of $2,000,000, reflecting a 22% original issue discount. The notes bear interest at 8% per annum, mature in nine months, and are convertible at the lower of $0.6390 (Nasdaq Minimum Price) or 80% of the lowest VWAP during the 15 trading days preceding conversion, subject to a floor price equal to 20% of the Nasdaq Mi...
Key takeaways
The financing generated $2,000,000 in cash proceeds against $2,564,102.65 of convertible note principal, reflecting a 22% original issue discount.
The 1-for-2 reverse stock split takes effect at the market open on October 26, 2026 and reduces shares outstanding from 2,368,237 to approximately 1,184,119.
Glucotrack must maintain a closing bid price of at least $1.00 through November 9, 2026 to maintain its Nasdaq listing.
The financing includes five-year warrants to purchase 8,025,360 shares at an exercise price of $1.5975 per share.
The notes convert at the lower of $0.6390 or 80% of the lowest VWAP during the 15 trading days before conversion, with a floor equal to 20% of the Nasdaq Minimum Price.
The stated use of proceeds is general corporate purposes, and the financing is intended to fund operations and maintain Nasdaq listing compliance.
Stockholder approval is required within 90 days for issuances exceeding 19.99% of outstanding shares under Nasdaq Listing Rule 5635(d), and a resale registration statement must be filed within 10 days.
Disclosure changes
- Capital structure
Company announced 1-for-2 reverse stock split effective October 26, 2026, reducing outstanding shares from 2,368,237 to approximately 1,184,119 shares
Reverse split reduces share count and increases per-share price to meet Nasdaq minimum bid requirement of $1.00 through November 9, 2026 - Convertible note financing
Company closed $2M private placement of senior secured convertible notes with 22% OID and 8% interest, accompanied by warrants to purchase 8,025,360 shares
Company raised capital with significant dilution potential and shareholder approval requirements; notes are senior secured against substantially all assets
Primary source
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