Glucotrack, Inc. (Nasdaq: GCTK) entered into a securities purchase agreement on October 22, 2026, to issue senior secured convertible promissory notes to certain investors. The aggregate principal amount of the notes issued is $2,564,102.65, with a cash purchase price of $2,000,000, reflecting an original issue discount of 22%. The notes bear interest at a rate of 8% per annum and mature nine months after issuance.
Additionally, the company issued warrants to purchase 8,025,360 shares of common stock, with an exercise price of $1.5975 per share. The total number of shares of common stock issued upon conversion of the notes and exercise of the warrants is capped at 19.99% of the outstanding shares prior to the transaction, unless stockholder approval is obtained.
In a separate announcement, Glucotrack disclosed that it will effect a 1-for-2 reverse stock split of its common stock, effective with the opening of trading on October 26, 2026. The split will reduce the total number of outstanding shares from 2,368,237 to approximately 1,184,119 shares. The company stated the split is intended to help regain compliance with the Nasdaq minimum bid price requirement of $1.00.
