Glucotrack, Inc. (NASDAQ: GCTK), together with its operating business Lokahi Therapeutics™, a clinical-stage biopharmaceutical company advancing innovative non-opioid biologic therapies and applying its proprietary ai²™ methodology to identify and develop high-value healthcare opportunities, today announced the completion of a bridge financing designed to support the Company's strategic growth objectives, including the continued advancement of the combined Glucotrack–Lokahi platform and other anticipated capital markets activities.
The bridge financing follows the completion of the strategic business combination between Glucotrack and Lokahi, announced earlier this week.
E.F. Hutton & Co. served as exclusive financial advisor and placement agent in connection with the bridge financing and continues to support the Company as it evaluates additional financing opportunities intended to strengthen its balance sheet, advance corporate initiatives, and support long-term value creation.
"The successful completion of this bridge financing represents an important step in our broader strategic plan," said CEO Erik Emerson, who previously served as Chief Executive Officer of Lokahi Therapeutics™. "We appreciate the support and guidance of E.F. Hutton & Co. as we complete the integration of Glucotrack and Lokahi and evaluate additional capital formation opportunities. We believe these initiatives position the Company to expand its strategic capabilities and create a stronger platform for future growth."
GCTK grabbed two cents, or 3.7%, to 52 cents.
