Key Takeaways
- • Glucotrack, Inc. (Nasdaq: GCTK) will effect a 1-for-2 reverse stock split effective at the opening of trading on Monday, October 26, 2026, per a Business Wire announcement.
- • Total outstanding common shares will fall from 2,368,237 to approximately 1,184,119, with each stockholder's ownership percentage unchanged apart from fractional-share rounding.
- • The split is intended to help restore compliance with Nasdaq's $1.00 minimum bid price requirement under Listing Rule 5550(a)(2), under a Nasdaq Hearings Panel exception that runs until November 9, 2026.
- • The company already executed a 1-for-15 reverse split on August 28, 2026, under shareholder authority to pursue aggregate ratios of up to 1-for-30.
- • Failure to sustain a closing bid of at least $1.00 through the exception period, or failure to meet other listing rules, could result in delisting from Nasdaq.
Summary
Glucotrack, Inc., a healthcare technology and biopharmaceutical company operating Lōkahi Therapeutics and focused on a long-term implantable continuous blood glucose monitoring system through its subsidiary Glucotrack Technologies, Inc., announced that it will implement a 1-for-2 reverse stock split of its common stock, par value $0.001 per share. The split takes effect with the opening of trading on Monday, October 26, 2026. The company's shares will continue to trade on the Nasdaq Capital Market under the symbol "GCTK" under a new CUSIP number, 45824Q879.
According to the company, every two shares of outstanding common stock will be combined into one share, reducing total outstanding shares from 2,368,237 to approximately 1,184,119. Stockholders' proportional ownership will be unchanged, except for fractional entitlements. No fractional shares will be issued; holders who would otherwise receive a fraction will instead receive an additional fraction rounding up to a whole share. The combination will occur automatically without stockholder action, with VStock Transfer, LLC acting as exchange agent. Brokerage and nominee positions will be adjusted subject to each nominee's processes.
The split was authorized at the annual stockholder meeting held August 18, 2026, which approved reverse splits at an aggregate ratio not to exceed 1-for-30 at management's discretion. The company implemented a 1-for-15 reverse split on August 28, 2026. The company states the current action is intended to help regain compliance with the $1.00 minimum bid price requirement and to make its shares more attractive to a broader group of institutional investors.
The company's compliance position is governed by an exception granted by the Nasdaq Hearings Panel, which requires a closing bid price of at least $1.00 each trading day through November 9, 2026. If Glucotrack becomes non-compliant with another listing rule during the exception, it must notify the Panel within seven calendar days, and the Panel will decide whether to grant a cure exception or delist. The Panel may also reconsider the exception terms. The company's forward-looking statements caution that failure to meet these terms could lead to delisting. The proxy statement detailing the split was filed with the SEC on July 17, 2026.
According to the company, every two shares of outstanding common stock will be combined into one share, reducing total outstanding shares from 2,368,237 to approximately 1,184,119. Stockholders' proportional ownership will be unchanged, except for fractional entitlements. No fractional shares will be issued; holders who would otherwise receive a fraction will instead receive an additional fraction rounding up to a whole share. The combination will occur automatically without stockholder action, with VStock Transfer, LLC acting as exchange agent. Brokerage and nominee positions will be adjusted subject to each nominee's processes.
The split was authorized at the annual stockholder meeting held August 18, 2026, which approved reverse splits at an aggregate ratio not to exceed 1-for-30 at management's discretion. The company implemented a 1-for-15 reverse split on August 28, 2026. The company states the current action is intended to help regain compliance with the $1.00 minimum bid price requirement and to make its shares more attractive to a broader group of institutional investors.
The company's compliance position is governed by an exception granted by the Nasdaq Hearings Panel, which requires a closing bid price of at least $1.00 each trading day through November 9, 2026. If Glucotrack becomes non-compliant with another listing rule during the exception, it must notify the Panel within seven calendar days, and the Panel will decide whether to grant a cure exception or delist. The Panel may also reconsider the exception terms. The company's forward-looking statements caution that failure to meet these terms could lead to delisting. The proxy statement detailing the split was filed with the SEC on July 17, 2026.
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