Glucotrack (GCTK) Prices $10M Share Offering

Glucotrack, Inc. (Nasdaq: GCTK), a medical technology company focused on the design, development, and commercialization of novel technologies for people with diabetes, announced the launch of a “best efforts” public offering of approximately 7,195,000 shares of common stock (or pre-funded warrants in lieu thereof) with each share of common stock (or pre-funded warrant) accompanied by (i) a series A common warrant to purchase one (1) common share at an exercise price of $1.81 per share and (ii) a series B common warrant to purchase one (1) common share at an exercise price of $1.81 per share. The combined offering price of each share of common stock together with the accompanying series A and series B common warrants is $1.39, and the combined offering price of each pre-funded warrant together with the accompanying series A and series B common warrants is $1.389. The gross proceeds of the public offering are expected to be approximately $10 million before deducting placement agent fees and offering expenses. The closing of the public offering is expected to occur on or about November 14, 2024, subject to the satisfaction of customary closing conditions.

Dawson James Securities, Inc. is acting as the sole placement agent for the public offering.

This public offering is being made by the Company pursuant to a registration statement on Form S-1 (File No. 333-282158), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on November 12, 2024. The securities may only be offered by means of a prospectus. Copies of the prospectus may be obtained, when available, at the SEC’s website at www.sec.gov or from Dawson James Securities, Inc. Attention: Prospectus Department, 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, [email protected] or toll free at 866.928.0928.

In a concurrent private placement, the Company has reached an agreement to convert approximately $4.0 million in outstanding secured convertible notes originally issued in July 2024 into equity on substantially the same terms as the public offering. The closing of the private offering is expected to take place concurrently with the closing of the public offering on November 14, 2024, subject to satisfaction of customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

You May Also Be Interested In

• Matinas BioPharma to merge with GH Power, sell drug unit to Azurity
• GH Power to go public via merger with Matinas BioPharma
• Research Alliance Corporation IV prices $75M IPO on Nasdaq