GlucoTrack Stock Falls on Plans to Sell $3M Note

Dow Jones

Sep 13

By Katherine Hamilton

GlucoTrack shares fell after the company said it issued a $3.6 million convertible promissory note for $3 million.

The stock fell 8% to $9.75 in after-hours trading on Friday. At the close, it was down 98% this year.

The medical technology company said the note bears no interest and has an original issue discount of $600,000. It is an unsecured obligation and will rank equal in right of payment with GlucoTrack's existing and future unsecured debt.

The note will be due and payable 12 months after the issue date.

On Thursday, GlucoTrack entered into a purchase agreement with Sixth Borough Capital Fund establishing an equity line of credit. GlucoTrack has the right to sell Sixth Borough, and Sixth Borough is obligated to purchase up to $20 million of GlucoTrack's shares. GlucoTrack is required to use all of the proceeds from that sale to pay back the note.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

September 12, 2025 18:26 ET (22:26 GMT)

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At the close, it was down 98% this year. \n\n\n  The medical technology company said the note bears no interest and has an original issue discount of $600,000. It is an unsecured obligation and will rank equal in right of payment with GlucoTrack's existing and future unsecured debt. \n\n\n  The note will be due and payable 12 months after the issue date. \n\n\n  On Thursday, GlucoTrack entered into a purchase agreement with Sixth Borough Capital Fund establishing an equity line of credit. GlucoTrack has the right to sell Sixth Borough, and Sixth Borough is obligated to purchase up to $20 million of GlucoTrack's shares. GlucoTrack is required to use all of the proceeds from that sale to pay back the note. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 12, 2025 18:26 ET (22:26 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}