Glucotrack raises $2M via 22% OID secured convertible notes and sets 1-for-2 reverse split

Glucotrack, Inc.

Issued $2.56M principal of 8% senior secured convertible notes due 9 months for $2.0M cash, a 22% original issue discount; default rate 18%.
Notes convert at lower of $0.6390 or 80% of 15-day VWAP, floor 20% of Nasdaq Minimum Price; exchange cap 19.99% pending stockholder approval.
Issued warrants for 8,025,360 shares at $1.5975, exercisable 5 years; Dawson James got 7% cash fee, 160,508 warrants at 125% of conversion price, up to $50K expenses.
1-for-2 reverse split effective Oct 26, 2026; outstanding shares fall from 2,368,237 to about 1,184,119; new CUSIP 45824Q879.
Reverse split aims to regain Nasdaq $1.00 bid compliance by Nov 9, 2026, after prior 1-for-15 split on Aug 28, 2026; delisting possible if terms not met.

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