Glucotrack Completes 1-for-2 Reverse Split; Pro Forma Shows $19.7M Combined Loss
GCTK has more than doubled off its 52-week low of $0.746 on elevated volume (15× avg).
Summary
Glucotrack's 1-for-2 reverse split became effective October 23, leaving about 1.18M shares outstanding. The same 8-K gives the first pro forma view of the Lokahi merger: a $19.7M combined net loss for H1 2026 and $10.6M of pro forma cash.
Key Events · Corporate Governance and Compliance · GCTK
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1-for-2 Reverse Split Effective
The Certificate of Amendment took effect at 4:30 p.m. ET on October 23, 2026, combining every two shares into one and reducing shares outstanding from 2,368,237 to approximately 1,184,119. Trading began split-adjusted October 26 under new CUSIP 45824Q879.
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Pro Forma Merger Losses Disclosed
Unaudited pro forma combined results show a net loss of $19,699,822 for the six months ended June 30, 2026 and $28,135,308 for the year ended December 31, 2025, including a $2,716,171 day-one loss on the bridge notes.
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Thin Pro Forma Liquidity
Pro forma combined cash is $10,617,827 against total current liabilities of $23,862,854, including $11,738,734 of convertible notes carried at fair value and a $1,090,165 warrant liability.
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Merger Consideration Valued at $34.3M
The Lokahi acquisition was valued at $34,290,345, allocated to $25,400,000 of in-process R&D and intangibles plus $15,631,064 of goodwill, with 2,738,408 common-equivalent shares issued after both reverse splits.
Analysis · GCTK · Industrial Applications And Services
The 1-for-2 reverse split approved at the August 18 annual meeting took effect October 23, cutting shares outstanding from 2,368,237 to about 1,184,119 — a mechanical step aimed at holding Nasdaq's minimum bid price, not a change in value. More substantive is the first look at the combined company: pro forma for the Lokahi merger, Glucotrack would have posted a $19.7M net loss for the first half of 2026 and $28.1M for all of 2025, with only $10.6M of pro forma cash against $23.9M of current liabilities. That cash figure is largely the proceeds of the 22% OID bridge notes, so the runway is short and the dilution already embedded in the capital structure is severe.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, GCTK was trading at $2.05 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.4M. The 52-week trading range was $0.75 to $225.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.