IPO - Glucotrack, Inc.

Form Type: 424B5

Filing Date: 2025-02-05

Corporate Action: Ipo

Type: New

Accession Number: 000149315225004955

Filing Summary: Glucotrack, Inc. is conducting a registered direct offering of 2,638,042 shares of its common stock at a price of $1.15 per share to institutional and accredited investors. The net proceeds from this offering are designated for general corporate purposes and working capital. The offering follows a series of regulatory and market activities, including a reverse stock split approved on January 3, 2025, and effective on February 3, 2025. The company's common stock price prior to the offering was slightly below the offering price, and the company's market capitalization is approximately $55.8 million based on outstanding shares. This transaction is part of Glucotrack's strategy to strengthen its financial position and align with market compliance requirements, particularly concerning its Nasdaq listing status. The company has also focused on developing its Implantable Continuous Glucose Monitor for diabetes management, which is in the late stages of preclinical testing, with plans for human trials expected to commence in late 2024. The offering is not contingent on a minimum number of shares sold, indicating flexibility in investor participation.

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