Glucotrack Raises $2M in 22% OID Convertible Notes and Sets 1-for-2 Reverse Split
GCTK is trading near its 52-week low of $0.56 (8.5% above the low) on light trading volume (0.1× avg).
Summary
Glucotrack closed a $2.0M private placement of senior secured convertible notes with a 22% OID and variable-price conversion, plus 8.0M warrants, and confirmed a 1-for-2 reverse split effective October 26, 2026.
Key Events · Financing and Capital Events · GCTK
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Closed $2.0M Convertible Note Placement
Issued senior secured convertible notes with $2,564,102.65 aggregate principal for $2,000,000 cash, a 22% original issue discount, 8% annual interest and a nine-month maturity.
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Variable-Price Conversion and Warrant Overhang
Notes convert at the lower of $0.6390 or 80% of the lowest 15-day VWAP (floor at 20% of the Nasdaq Minimum Price); 8,025,360 warrants were issued at $1.5975, exercisable for five years.
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Half of ELOC Proceeds Pledged to Noteholders
The company must apply 50% of all equity-line proceeds to repay the notes within three business days, and is barred from new variable-rate transactions for 90 days without investor consent.
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Placement Agent Compensation
Dawson James receives a 7% cash fee, 160,508 warrants at 125% of the initial conversion price, and expense reimbursement capped at $50,000.
Analysis · GCTK · Industrial Applications And Services
The effective cost of capital here sits far above the stated coupon: Glucotrack took $2.0M of cash today in exchange for $2.56M of senior secured convertible notes carrying a 22% original issue discount, 8% interest and a nine-month maturity. Because conversion is priced at the lower of $0.6390 or 80% of the lowest 15-day VWAP, the notes convert into an increasing number of shares as the stock falls, and the 8.0M warrants at $1.5975 add further overhang. The company also committed to hand over half of every future equity-line draw to these noteholders, draining the cheapest funding source it has. Against a going-concern warning and Nasdaq minimum-bid pressure, the 1-for-2 reverse split effective October 26 is a listing-compliance move, not a value event: the share count falls from 2,368,237 to about 1,184,119 but each holder's percentage is unchanged. Existing shareholders absorb both the discounted conversion mechanics and the warrant overhang.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 36.9% of the 1013 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.77%. 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 $0.61 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $1.4M. The 52-week trading range was $0.56 to $112.50. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.