debt
confidence high
sentiment neutral
materiality 0.70
Glucotrack raises $5.5M in combined equity and convertible debt financing
Glucotrack, Inc.
- $2.0M equity PIPE at $0.75/unit: each unit includes one share (or pre-funded warrant) and a 5-year warrant at $1.50.
- $3.5M follow-on bridge convertible debt with 8% interest, 9-month maturity, and 22% original issue discount.
- Conversion and warrant exercise require stockholder approval; conversion price is lower of Nasdaq minimum or 80% of VWAP.
- Proceeds to strengthen balance sheet and provide growth capital for portfolio execution.
- E.F. Hutton & Co. served as exclusive advisor to Lōkahi Therapeutics, a Glucotrack subsidiary.