Business
GlucoTrack Announces Pricing of $10 Million Underwritten Public Offering of Common Stock
Rutherford, NJ, April 13, 2023 (GLOBE NEWSWIRE) -- GlucoTrack, Inc. (Nasdaq: GCTK) (“GlucoTrack” or the “Company”), a medical device and digital health
About this update from Glucotrack, Inc.
[{"type":"text","content":"Rutherford, NJ, April 13, 2023 (GLOBE NEWSWIRE) -- GlucoTrack, Inc. (Nasdaq: GCTK) (“GlucoTrack” or the “Company”), a medical device and digital health platform company focused on diabetes and prediabetes, today announced the pricing of a firm commitment underwritten public offering of shares of its common stock with gross proceeds to the Company expected to be approximately $10 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consists of 7,352,942 shares of common stock and pre-funded warrants at a price to the public of $1.36 per share (less $0.001 in exercise price per pre-funded warrant). The Company intends to use the net proceeds from this offering primarily for working capital and general corporate purposes, which may include, without limitation, engaging in acquisitions or other business combinations or investments, sales and marketing activities, general and administrative matters and capital expenditures. The offering is expected to close on April 17, 2023, subject to the satisfaction of customary closing conditions. Aegis Capital Corp. is acting as the sole book-running manager for the offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333- 259664) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on September 27, 2021. A preliminary prospectus supplement and accompanying shelf prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying shelf prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at [email protected], or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. This press r...