Glucotrack shareholders approve stock issuance proposals and amend warrant terms

Glucotrack, Inc. (NASDAQ:GCTK) shareholders approved two key proposals at a special meeting on September 11, related to the issuance of common stock and amending warrant terms. The first proposal allowed for the full issuance of shares under a common stock purchase agreement and related warrants with White Lion Capital, LLC, while the second proposal enabled the issuance of common stock upon conversion of senior secured convertible promissory notes and exercise of related warrants.

Both proposals complied with Nasdaq Listing Rule 5635(d) and were approved by a majority of shareholders. Glucotrack is currently facing financial challenges, with its stock price plummeting 95.6% year-to-date and a market capitalization of just $1 million. The company's shares have dropped 14% in the past week, highlighting the need for the capital raises.

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