Glucotrack has entered into definitive agreements for approximately $11.5 million of convertible notes, including about $4.5 million of new cash investment and $4.5 million of existing notes being rolled over.
The aggregate principal amount incorporates a 22% original issue discount. The convertible debt has an initial conversion price of $3.12 per share, while participating investors will also receive warrants exercisable at $7.50 per share.
The company said the financing is intended to support its strategic growth as it continues operating businesses across medical technology and biopharmaceutical development.
Dawson James Securities acted as Sole Placement Agent for the financing.
Glucotrack operates Lōkahi Therapeutics and, through subsidiary Glucotrack Technologies, is developing technologies for people with diabetes.
Its medical technology work includes a long-term implantable continuous blood glucose monitoring system. The Glucotrack CBGM remains an investigational device and is limited under U.S. federal law to investigational use.
Lōkahi Therapeutics operates as a capital-efficient biopharmaceutical platform focused on identifying, evaluating and advancing therapeutic assets.
The business uses its ai² platform and ai² Futures Lab model to combine cross-functional expertise and structured decision-making around therapeutic development and longer-term value creation.
The financing gives Glucotrack additional capital as it advances both its diabetes technology and Lōkahi biopharmaceutical initiatives.
