GLUCOTRACK ANNOUNCES CLOSING OF PRIVATE PLACEMENT | GCTK Stock News
Summary
The Offering included participation by CEO Paul V. Goode, PhD, as well as other members of the Companys executive management, Board of Directors, and existing shareholders.In a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933, the Company issued 396,825 shares of its common stock at a price of $1.26 per share, for aggregate gross proceeds of $500,000 (the Offering). The Company is currently developing a long-term implantable continuous blood glucose monitoring system for people living with diabetes.Glucotracks CBGM is a long-term, implantable system that continually measures blood glucose levels with a sensor longevity of 2+ years, no on-body wearable component and with minimal calibration. For more information, please visit http://www.glucotrack.com.This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as believe, expect, plan and will are intended to identify forward-looking statements. Factors that may affect Glucotracks 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 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 Glucotracks current and future distribution agreements; risks relating to its ability to hire and retain qualified personnel, including sales and distribution personnel; and the additional risk factors described in Glucotracks 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, 2023 as filed with the SEC on March 28, 2023.