Glucotrack Announces Pricing of $10 Million Public Offering

On November 13, 2024, Glucotrack, Inc. disclosed the pricing details of a public offering in a recent press release. The medical technology company, focused on developing innovative technologies for individuals with diabetes, announced the commencement of a “best efforts” public offering. This offering comprises approximately 7,195,000 shares of common stock (or pre-funded warrants) for sale. Each common stock share (or pre-funded warrant) will be accompanied by a series A common warrant and a series B common warrant, each allowing the purchase of one common share at $1.81 per share.

The combined offering price for each common stock share, along with the series A and series B warrants, is set at $1.39. Likewise, the combined offering price for each pre-funded warrant along with the accompanying series A and series B common warrants is $1.389. The gross proceeds from this public offering are estimated to reach around $10 million before accounting for placement agent fees and offering expenses. The closing of the offering is anticipated to transpire on or about November 14, 2024, contingent upon meeting typical closing conditions.

Serving as the single placement agent for this public offering is Dawson James Securities, Inc. The public offering has been made under 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. Prospectuses for these securities may be acquired from the SEC’s website or Dawson James Securities, Inc.

Simultaneously, as part of a private placement arrangement, Glucotrack, Inc. will convert roughly $4.0 million of existing secured convertible notes issued in July 2024 into equity under terms aligning with the public offering. The closure of this private offering is expected to coincide with the public offering’s conclusion on November 14, 2024, subject to customary closing conditions.

It is important to note that the press release clarifies that this communication does not constitute an offer to sell or a solicitation to purchase these securities in jurisdictions where such actions would breach the law prior to appropriate registration or qualification under relevant securities laws.

About Glucotrack, Inc.
Glucotrack, Inc. (NASDAQ: GCTK) focuses on developing and commercializing inventive technologies for individuals with diabetes. Presently, the company is in the process of creating a long-term implantable continuous blood glucose monitoring system designed for individuals managing diabetes.

Forward-Looking Statements
This press release may contain forward-looking statements, as specified under relevant securities laws. These statements are not historical facts and involve risks and uncertainties that could lead to divergences from anticipated outcomes. Glucotrack, Inc. advises not to place undue reliance on these forward-looking statements and commits to updating them when mandated by applicable law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GlucoTrack’s 8K filing here.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain.