India, Sept. 11 -- Glucotrack, Inc. (GCTK) has entered into definitive agreements for $11.5 million in convertible notes, combining new cash investment with existing debt rollover.
The financing includes a 22% original issue discount, an initial conversion price of $3.12 per share, and warrants exercisable at $7.50 per share. Dawson James Securities acted as sole placement agent.
The company operates Lokahi Therapeutics and, through its subsidiary Glucotrack Technologies, is developing a long-term implantable continuous blood glucose monitoring system for people with diabetes. The device remains investigational and is limited to clinical use under U.S. law.
Glucotrack emphasized that the financing strengthens its capital position as it a...