Warrant Repurchase
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Glucotrack Announces Repurchase of Series A Warrants
GlobeNewswire News Roomยท 2025-07-08 12:30
Core Insights - Glucotrack, Inc. has successfully repurchased over 90% of its outstanding Series A Warrants as part of its capital formation strategy, reflecting confidence in its product development [1][2][4] - The repurchase involved approximately 49,700 Series A Warrants, leaving around 4,300 outstanding, with expectations for further repurchases [3] - The Series A and Series B Warrants were originally issued in connection with a $10 million public offering completed in November 2024 [2] Company Overview - Glucotrack, Inc. focuses on the design, development, and commercialization of innovative technologies for diabetes management [4][5] - The company is developing a long-term implantable continuous blood glucose monitoring system, which features a sensor longevity of 3 years and minimal calibration requirements [5] Financial Strategy - The warrant repurchase is seen as a significant step towards strengthening the company's capital structure and delivering value to shareholders [4] - The repurchase was funded using existing cash on hand, indicating a solid financial position [3]