Glucotrack, Inc. Announces 1-for-20 Reverse Stock Split

On January 30, 2025, Glucotrack, Inc. (Nasdaq: GCTK) disclosed a significant move within its capital structure. This Delaware corporation specializing in medical devices made public a press release involving a 1-for-20 reverse stock split of its common stock, which holds a par value of $0.001 per share. The reverse stock split is set to become effective as of the opening of trading on February 4, 2025.

As a result of this reverse stock split, every 20 shares of Glucotrack’s common stock will be combined into one share. The number of outstanding shares will subsequently decrease proportionally from 155,491,473 to approximately 7,774,574. Fractional shares resulting from the split will be rounded up to the next whole share, ensuring no partial shares are issued to stockholders.

The decision to implement the reverse stock split was authorized by stockholders at a special meeting held on January 3, 2025. The Company’s Board approved the split at a ratio of 1-for-20 on January 28, 2025. The primary objectives of this initiative include aiding Glucotrack in complying with the $1.00 minimum bid price requirement for maintaining the listing of its common stock on the Nasdaq Capital Market, as well as broadening the appeal of its stock prices to institutional investors.

The reverse stock split will occur automatically on February 4, 2025, and stockholders will receive notification from Glucotrack’s transfer agent, VStock Transfer, LLC, detailing the adjusted number of shares held. Stockholders whose shares are held in brokerage accounts or through other intermediaries need not take any action, as their positions will be adjusted accordingly.

Further details on the reverse stock split can be accessed in the Company’s Definitive Proxy Statement on Schedule 14A, filed with the U.S. Securities and Exchange Commission on December 6, 2024, accessible on sec.gov or through Glucotrack’s investor relations website.

Glucotrack, Inc. is dedicated to developing innovative technologies for individuals with diabetes, with a current focus on a long-term implantable continuous blood glucose monitoring system. The Company’s implantable system offers continuous blood glucose measurement over a three-year sensor lifespan, without the need for an on-body wearable component and minimal calibration.

While forward-looking statements may have been made in connection with this announcement, the Company emphasizes that actual results could differ materially from those anticipated due to various factors and uncertainties, some of which are beyond its control. The Company does not intend to update forward-looking statements unless obligated to under federal securities laws.

For further information about Glucotrack, please visit their website at glucotrack.com.

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About Glucotrack, Inc.:
Glucotrack, Inc. (NASDAQ: GCTK) is focused on developing novel technologies for individuals with diabetes, currently focusing on an implantable continuous blood glucose monitoring system.

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This concludes the coverage of Glucotrack, Inc.’s recent reverse stock split announcement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GlucoTrack’s 8K filing here.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain.