secwatch.observer — SEC 8-K summary
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Issuer:     Glucotrack, Inc. (GCTK)
CIK:        0001506983
Form:       8-K
Filed at:   2025-09-12T23:59:59+00:00
Accession:  0001493152-25-013290
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glucotrack issues $3.6M convertible note at $3M price; ELOC proceeds to repay
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- Issued $3.6M convertible promissory note for $3M purchase price ($600K OID), no interest, due in 12 months or upon Qualified Financing.
- Conversion price floor of $4.87/share; converts into equity of next financing raising ≥$5M.
- Simultaneously entered $20M ELOC with Sixth Borough Capital; 100% of ELOC net proceeds repay note pre-stockholder approval, 50% post.
- Note is unsecured, no restrictive covenants; standard events of default include bankruptcy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506983/000149315225013290/0001493152-25-013290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506983/000149315225013290/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-013290

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer