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2026-08-04
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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): August 4, 2026
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
1.01. Entry Into a Material Definitive Agreement.
On
August 4, 2026, Glucotrack, Inc. (the “Company”) entered into a series of definitive agreements providing for (i) a follow-on
investment in the Company’s existing bridge financing (the “Bridge Follow-On”) and (ii) an interim private placement
(the “Interim PIPE” and, together with the Bridge Follow-On, the “Follow-On Financing”). This section describes
the material provisions of the Follow-On Financing but does not purport to describe all of the terms thereof. The following summary is
qualified in its entirety by reference to the complete text of the agreements, copies of which are filed as exhibits to this Current
Report on Form 8-K. Unless otherwise defined herein, capitalized terms used below have the meanings ascribed to them in the applicable
Follow-On Financing agreements.
As
previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”)
on July 15, 2026, on July 14, 2026, the Company entered into a Securities Purchase Agreement (the “Existing SPA”) with certain
investors (the “Existing Bridge Investors”) pursuant to which the Company issued to the Existing Bridge Investors senior
secured convertible promissory notes (the “Bridge Notes”) and common stock purchase warrants (the “Bridge Warrants”)
for gross proceeds of approximately $4.45 million (such transactions, the “Bridge Financing”). In connection with the Bridge
Financing, the Company also entered into a related Security Agreement (the “Security Agreement,” and together with the Existing
SPA, the Bridge Notes, the Bridge Warrants and any other documents or agreements executed or delivered in connection therewith, the “Bridge
Documents”).
Bridge
Follow-On
On
August 4, 2026, certain investors (collectively, the “New Investors”) entered into a joinder to participate in the Bridge
Financing. Pursuant to the joinder, the New Investors joined the Existing SPA and the Security Agreement and agreed to invest an aggregate
of $3,500,000 in the Bridge Follow-On, in exchange for the issuance of Follow-On Bridge Notes and Follow-On Bridge Warrants (each as
defined below). The Existing Bridge Investors constituting the Requisite Holders (as defined in the Existing SPA) consented to the Bridge
Follow-On and the Interim PIPE, and waived all applicable provisions of the Bridge Documents (and any other documents to which they and
the Company are party) otherwise triggered or affected by the Follow-On Financing.
Follow-On
Bridge Notes
On
August 4, 2026, the Company issued to the New Investors senior secured convertible promissory notes in substantially identical form to
the Bridge Notes (the “Follow-On Bridge Notes”) in the aggregate principal amount of $3,500,000, with an aggregate face amount
of $4,487,179, reflecting a 22% original issue discount. The Follow-On Bridge Notes bear interest at the rate of 8% per annum on the
outstanding principal amount and mature nine (9) months from July 14, 2026. Following the occurrence of any Event of Default (as
defined in the Follow-On Bridge Notes), the outstanding principal amount, together with any past due and unpaid interest, will bear interest
at a rate of 18% per annum until paid in full. The Follow-On Bridge Notes are secured by a first-priority security interest in the assets
of the Company and its subsidiaries (excluding the Operating Sub Assets (as defined in the Existing SPA)) on the same basis as the Bridge
Notes under the Security Agreement.
The
Follow-On Bridge Notes are not convertible until the Company obtains stockholder approval of the issuance of the underlying common stock,
par value $0.001 per share (“Common Stock”), in accordance with Nasdaq Listing Rule 5635(d) (the “Stockholder Approval”).
Following Stockholder Approval, the Follow-On Bridge Notes are convertible, in whole or in part, at any time on or after the issuance
date, at a conversion price equal to the lower of (i) the Nasdaq Minimum Price (as defined in the Existing SPA) and (ii) 80% of the lowest
daily volume weighted average price of the Common Stock during the fifteen (15) trading days immediately preceding the applicable conversion
notice, subject in each case to a floor price equal to 20% of the Nasdaq Minimum Price. The conversion price and floor price are subject
to customary adjustment for stock splits, stock dividends, reclassifications, dilutive issuances, share combination events, and reorganization
or change of control transactions.
Follow-On
Bridge Warrants
On
August 4, 2026, the Company also issued to the New Investors Common Stock purchase warrants in substantially identical form to the Bridge
Warrants (the “Follow-On Bridge Warrants”) exercisable for a number of shares of Common Stock equal to 125% of the aggregate
principal amount of the Follow-On Bridge Notes divided by the exercise price (i.e., $4,375,000 divided by the exercise price). The Follow-On
Bridge Warrants are not exercisable until the Company obtains the Stockholder Approval. Following the Stockholder Approval, the Follow-On
Bridge Warrants are exercisable for a period of five (5) years from the date of issuance and have an exercise price per share equal to
$35,000,000 divided by the number of outstanding shares of Common Stock, subject to a floor price equal to 20% of the Nasdaq Minimum
Price. Subject to the Stockholder Approval, the floor price is subject to reset if the volume-weighted average price of the Common Stock
is below the floor price for ten (10) consecutive trading days.
The
Bridge Financing Documents (as defined in the Company’s Current Report on Form 8-K filed with the SEC on July 15, 2026), including
the Existing SPA, the Bridge Notes, the Bridge Warrants and the Security Agreement, otherwise continue in full force and effect, as amended
and supplemented by the Follow-On Bridge Notes and the Follow-On Bridge Warrants.
Copies
of the form of Follow-On Bridge Note and the form of Follow-On Bridge Warrant are filed as Exhibits 4.1 and 4.2, respectively, to this
Current Report on Form 8-K and are incorporated herein by reference. The foregoing description of each such agreement is qualified in
its entirety by reference to the full text thereof.
Interim
PIPE
Securities
Purchase Agreement
On
August 4, 2026, the Company entered into a Securities Purchase Agreement (the “Interim PIPE SPA”) with an investor (the “PIPE
Purchaser”) for a private placement of securities (the “Interim PIPE”). At the closing, the Company issued 2,666,667
pre-funded warrants (the “Pre-Funded Warrants”) to purchase 2,666,667 shares of Common Stock (the “Pre-Funded Warrant
Shares”), at a purchase price of $0.75 per warrant less the exercise price per Pre-Funded Warrant of $0.0001 per share (the shares
of Common Stock issuable upon exercise of the Pre-Funded Warrants, the “Pre-Funded Warrant Shares”), and Common Stock purchase
warrants (the “Common Warrants” and, together with the Pre-Funded Warrants, the “Warrants”) to purchase 2,666,667
shares (the “Warrant Shares”) of Common Stock, at an exercise price of $1.50 per Warrant Share, for aggregate gross proceeds
to the Company of $2,000,000.
The
Pre-Funded Warrants are exercisable at any time after their original issuance, and will not expire until exercised in full. The Common
Warrants are exercisable immediately upon issuance and have a term of exercise of five (5) years, and are subject to a floor price equal
to 20% of the closing price of the Common Stock on the date of issuance of the Common Warrant.
The
exercise of the Warrants is subject to a beneficial ownership limitation of 4.99% (or, at the election of the PIPE Purchaser, 9.99%)
of the outstanding Common Stock. The Interim PIPE SPA contains customary representations, warranties and covenants of the Company and
the PIPE Purchaser and customary indemnification provisions in favor of the PIPE Purchaser.
Registration
Rights Agreement
In
connection with the Interim PIPE SPA, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”)
with the PIPE Purchaser, pursuant to which the Company agreed to prepare and file with the SEC a registration statement (the “Registration
Statement”) covering the resale by the PIPE Purchaser of the Pre-Funded Warrant Shares and the Warrant Shares (collectively, the
“Registrable Securities”) on or prior to the 30th calendar day following the date of the Registration Rights Agreement. The
Company is required to use commercially reasonable efforts to have the Registration Statement declared effective as promptly as possible
after the filing thereof, but in any event no later than the 60th calendar day following the date of the Registration Rights Agreement
(or the 90th calendar day in the event of a “full review” by the SEC). The Registration Rights Agreement contains customary
representations, warranties, covenants and indemnification provisions.
Copies
of the Interim PIPE SPA, the form of Common Warrant, the form of Pre-Funded Warrant, and the Registration Rights Agreement are filed
as Exhibits 10.1, 4.3, 4.4 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference. The foregoing
description of each such agreement is qualified in its entirety by reference to the full text thereof.
Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The
disclosure set forth above in Item 1.01 of this Current Report on Form 8-K under the caption “Bridge Follow-On” is incorporated
into this Item 2.03 by reference.
Item
3.02 Unregistered Sales of Equity Securities.
The
disclosure set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 3.02 by reference.
The
Follow-On Bridge Notes and Follow-On Bridge Warrants (and the shares of Common Stock issuable upon conversion of the Follow-On Bridge
Notes and exercise of the Follow-On Bridge Warrants) were, or in the case of the underlying shares, will be, issued and sold by the Company
to the New Investors in reliance upon the exemptions from the registration requirements of the Securities Act of 1933, as amended (the
“Securities Act”) afforded by Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D thereunder.
In
the Interim PIPE SPA, the PIPE Purchaser represented to the Company, among other things, that he is either (i) an “accredited investor”
as defined in Rule 501(a) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under
the Securities Act. The Pre-Funded Warrants, the Pre-Funded Warrant Shares, the Common Warrants and the Warrant Shares issued and sold,
or issuable, pursuant to the Interim PIPE SPA were issued and sold, or will be issued, by the Company to the PIPE Purchaser in reliance
upon the exemptions from the registration requirements of the Securities Act afforded by Section 4(a)(2) of the Securities Act and Rule
506(b) of Regulation D thereunder.
Item
7.01. Regulation FD Disclosure.
On
August 5, 2026, the Company issued a press release announcing the closing of the Follow-On Financing. A copy of the press release is
attached as Exhibit 99.1 to this Current Report on Form 8-K.
The
information 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, unless the
Company specifically states that the information is to be considered “filed” under the Exchange Act or specifically incorporates
it by reference into a filing under the Securities Act or the Exchange Act.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
| Exhibit
No. |
|
Description |
| 4.1 |
|
Form of Follow-On Bridge Note, dated August 4, 2026 |
| 4.2 |
|
Form of Follow-On Bridge Warrant, dated August 4, 2026 |
| 4.3 |
|
Form of Common Warrant, dated August 4, 2026 |
| 4.4 |
|
Form of Pre-Funded Warrant, dated August 4, 2026 |
| 10.1 |
|
Securities Purchase Agreement, dated August 4, 2026, by and between Glucotrack, Inc. and the PIPE Purchaser |
| 10.2 |
|
Registration Rights Agreement, dated August 4, 2026, by and between Glucotrack, Inc. and the PIPE Purchaser |
| 99.1 |
|
Press Release, dated August 5, 2026 |
| 104 |
|
Cover
Page Interactive Data File (embedded within the inline XBRL document) |
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:
August 5, 2026 |
|
|
| |
|
|
| |
GLUCOTRACK,
INC. |
| |
|
|
| |
By: |
/s/
Erik Emerson |
| |
Name: |
Erik
Emerson |
| |
Title: |
Chief
Executive Officer |
Exhibit
99.1
Glucotrack
Announces $5.5 Million Financing
Includes
$2.0 Million Equity Financing at $0.75 Per Unit, priced at a premium to the market, and $3.5 Million Follow-On Investment from Institutional
Investors
RUTHERFORD,
N.J., and LA JOLLA, Calif., August 4, 2026 – Glucotrack, Inc. (NASDAQ: GCTK) (“Glucotrack” or the “Company”)
today announced definitive agreements for approximately $5.5 million in financing from participating institutional investors, including
a $2.0 million equity financing priced at $0.75 per unit and a $3.5 million follow-on investment in the form of convertible debt.
The
equity financing consists of units priced at $0.75 per unit, with each unit comprised of one share of common stock (or equivalent) and
one five-year warrant with an exercise price of $1.50 per share.
“We
believe one of the strongest signals investors can send is choosing to increase their alignment with common shareholders,” said
Erik Emerson, Chief Executive Officer of Glucotrack. “This financing strengthens our balance sheet, provides additional growth
capital, and reflects confidence in our long-term strategy. We believe it positions us well as we continue executing across our portfolio
of opportunities.”
E.F.
Hutton & Co. served as exclusive advisor to Lōkahi Therapeutics™, a subsidiary of Glucotrack, in conjunction with the
transaction.
About
Glucotrack, Inc.
Glucotrack,
Inc. (NASDAQ: GCTK) operates Lōkahi and, through its subsidiary Glucotrack Technologies, Inc., is also focused on the design, development,
and commercialization of novel technologies for people with diabetes, including a long-term implantable continuous blood glucose monitoring
system. The Glucotrack CBGM is an Investigational Device and is limited by federal (or United States) law to investigational use. For
more information, please visit www.glucotrack.com.
About
Lōkahi Therapeutics™
Lōkahi
Therapeutics is a capital-efficient biopharmaceutical platform company focused on identifying, evaluating, acquiring, and advancing overlooked
therapeutic assets. Through its ai² platform and ai² Futures Lab execution model, Lōkahi integrates cross-functional
expertise and disciplined decision-making to drive strategic development and long-term value creation. For more information, please visit
www.lokahithera.com. For more information on the ai² Futures Lab program, please visit www.ai2futureslab.com.
About
E.F. Hutton & Co.
E.F.
Hutton & Co. is a full-service investment bank and broker-dealer headquartered in New York City, serving corporations, financial
sponsors, and institutional investors across the U.S., Asia, Europe, the UAE, and Latin America. We provide a comprehensive range of
investment banking and capital markets services across our specialized divisions, delivering integrated solutions at every stage of the
capital lifecycle. For more information, please visit www.efhutton.com.
Forward-Looking
Statements
This
news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements
contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting
the generality of the foregoing, words such as “anticipate”, “believe”, “expect”, “plan,”
and “will” are intended to identify forward-looking statements. Such forward-looking statements are based on the beliefs
of management, as well as assumptions made by, and information currently available to, management. These statements relate only to events
as of the date on which the statements are made, and Glucotrack undertakes no obligation to publicly update any forward-looking statements,
whether as a result of new information, future events, or otherwise, except as required by law. All of the forward-looking statements
made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated
by Glucotrack will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us
or our business or operations. Readers are cautioned that certain important factors may affect Glucotrack’s actual results and
could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that
may affect Glucotrack’s results include, but are not limited to, 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 merger integration; 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; risks relating to its ability to hire and retain qualified personnel; and the additional risk factors described
in Glucotrack’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on
Form 10-K for the year ended December 31, 2025 as filed with the SEC on March 30, 2026.
Contact:
Glucotrack
GlucotrackPR@icrinc.com
Lōkahi
Therapeutics™
ir@lokahithera.com