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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 13, 2024
GLUCOTRACK,
INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-41141 |
|
98-0668934 |
(State
or Other Jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
Incorporation) |
|
File
Number) |
|
Identification
No.) |
301
Rte. 17 North, Ste. 800, Rutherford, NJ |
|
07070 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (201) 842-7715
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
GCTK |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §
230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
7.01. Regulation FD
On
November 13, 2024, Glucotrack, Inc., a Delaware corporation (the “Company”) issued a press release announcing the pricing
of a public offering. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein solely for purposes of this Item 7.01 disclosure.
The
information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except
as expressly set forth by specific reference in such a filing.
Item
9.01. Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
November 13, 2024 |
|
|
|
|
GLUCOTRACK,
INC. |
|
|
|
|
By: |
/s/
Paul Goode |
|
Name: |
Paul
Goode |
|
Title: |
Chief
Executive Officer |
Exhibit
99.1
Glucotrack,
Inc. Announces Pricing of $10.0 Million Public Offering
Rutherford,
NJ., November 13, 2024 – Glucotrack, Inc. (Nasdaq: GCTK), a medical technology company focused on the design, development, and
commercialization of novel technologies for people with diabetes, announced the launch of a “best efforts” public offering
of approximately 7,195,000 shares of common stock (or pre-funded warrants in lieu thereof) with each share of common stock (or
pre-funded warrant) accompanied by (i) a series A common warrant to purchase one (1) common share at an exercise price of $1.81 per share
and (ii) a series B common warrant to purchase one (1) common share at an exercise price of $1.81 per share. The combined offering price
of each share of common stock together with the accompanying series A and series B common warrants is $1.39, and the combined offering
price of each pre-funded warrant together with the accompanying series A and series B common warrants is $1.389. The gross proceeds
of the public offering are expected to be approximately $10 million before deducting placement agent fees and offering expenses.
The closing of the public offering is expected to occur on or about November 14, 2024, subject to the satisfaction of customary closing
conditions.
Dawson
James Securities, Inc. is acting as the sole placement agent for the public offering.
This
public offering is being made by the Company pursuant to a registration statement on Form S-1 (File No. 333-282158), which was declared
effective by the United States Securities and Exchange Commission (“SEC”) on November 12, 2024. The securities may only be
offered by means of a prospectus. Copies of the prospectus may be obtained, when available, at the SEC’s website at www.sec.gov
or from Dawson James Securities, Inc. Attention: Prospectus Department, 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, investmentbanking@dawsonjames.com
or toll free at 866.928.0928.
In
a concurrent private placement, the Company has reached an agreement to convert approximately $4.0 million in outstanding secured convertible
notes originally issued in July 2024 into equity on substantially the same terms as the public offering. The closing of the private offering
is expected to take place concurrently with the closing of the public offering on November 14, 2024, subject to satisfaction of customary
closing conditions.
This
press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale
of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction.
About
Glucotrack, Inc.
Glucotrack,
Inc. (NASDAQ: GCTK) is focused on the design, development, and commercialization of novel technologies for people with diabetes. The
Company is currently developing a long-term implantable continuous blood glucose monitoring system for people living with diabetes.
Glucotrack’s
CBGM is a long-term, implantable system that continually measures blood glucose levels with a sensor longevity of 2+ years, no on-body
wearable component and with minimal calibration. For more information, please visit http://www.glucotrack.com
Forward-Looking
Statements
This
press release may contain statements that constitute “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are
statements other than historical facts and may include statements that address future operating, financial or business performance or
Glucotrack’s strategies or expectations and statements regarding the completion of the offering, the satisfaction of customary
closing conditions related to the offering, the anticipated use of proceeds therefrom, the completion of the concurrent private placement,
and the exercise of the series A warrants and series B warrants or otherwise prior to their expiration. In some cases, you can identify
these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”,
“plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”,
“potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology.
Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties
that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.
These risks and uncertainties include, but are not limited to, market and other conditions, the ability of Glucotrack to raise additional
capital to finance its operations (whether through public or private equity offerings, debt financings, strategic collaborations or otherwise);
risks relating to the receipt (and timing) of regulatory approvals (including U.S. Food and Drug Administration approval); risks relating
to enrollment of patients in, and the conduct of, clinical trials; risks relating to Glucotrack’s future distribution agreements;
and risks relating to its ability to hire and retain qualified personnel, including sales and distribution personnel. These risks and
uncertainties also include, but are not limited to, those described under the caption “Risk Factors” in Glucotrack’s
Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on March 28, 2024, and in Glucotrack’s other
filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Glucotrack or to persons
acting on behalf of Glucotrack are expressly qualified in their entirety by reference to these risks and uncertainties. You should not
place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Glucotrack
does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required
under applicable law.
Investor
Relations:
investors@glucotrack.com
Media:
GlucotrackPR@icrinc.com
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