This filing contains no new operational data — it is a mechanical restatement for the reverse split. Monitor the company's next operational update for progress on Lokahi's LT-100 program and Glucotrack's CGM technology, as the combined entity remains pre-revenue with significant cash burn and dilutive financing overhang.
Price Chart
Executive Summary
Glucotrack filed Amendment No. 2 to its 8-K reporting the July 14, 2026 merger with Lokahi Therapeutics, solely to update unaudited pro forma financial statements for a 1-for-15 reverse stock split effective August 28, 2026. The filing provides detailed pro forma combined financials showing a pre-revenue combined entity with a net loss of $19.7M for H1 2026 and $28.1M for FY2025, funded by heavily dilutive bridge notes and an ELOC facility. This is a routine post-closing accounting update with no new operational or strategic information.
Key Financial Metrics
Key Facts
- Amendment No. 2 to Form 8-K/A filed solely to reflect a 1-for-15 reverse stock split effective August 28, 2026 in the pro forma financials.
- Merger with Lokahi Therapeutics closed July 14, 2026; Lokahi became a wholly owned subsidiary.
- Pro forma combined net loss for H1 2026: $19,699,822; for FY2025: $28,135,308.
- Pro forma combined revenue: $0 for all periods presented.
- Consideration transferred: $33,327,384 (5,323,013 common equivalent shares at $6.261 per share).
- Bridge financing: $5.7M face convertible notes (22% OID, 8% coupon) + warrants for $4.45M gross proceeds; follow-on $4.49M face notes for $3.5M.
- Interim PIPE: $2.0M gross proceeds via pre-funded warrants at $11.25/share.
- ELOC facility: up to $50M over 3 years; no shares sold to date.
- Pro forma cash: $10.6M; total assets: $53.5M; total liabilities: $25.3M; stockholders' equity: $28.2M.
- In-process R&D intangible assets: $25.4M; goodwill: $14.7M.
Financial Impact
No new financial impact; this is a pro forma restatement for the reverse split. The combined entity has $10.6M pro forma cash, zero revenue, and a $19.7M H1 net loss, with $11.7M in convertible notes and $1.1M in warrant liabilities.
Risk Factors
- Pre-revenue status with no near-term revenue visibility.
- Heavy debt load: $11.7M in convertible notes with 22% OID and 8% coupon, plus $1.1M in warrant liabilities.
- Potential dilution from the $50M ELOC facility and convertible note conversions.
- Pro forma net loss of $19.7M in H1 2026 indicates cash runway may be limited without additional financing.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001493152-26-046848 |
| Document: 0001493152-26-046848-index-headers.html | 0001493152-26-046848 |
| Document: 0001493152-26-046848-index.html | 0001493152-26-046848 |
| Document: 0001493152-26-046848.txt | 0001493152-26-046848 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $0.4032 | awaiting T+60 | — | $1.71 (−324.11%) |
Oct 19, 2026 8d ago | 8-K | $0.6511 | awaiting T+60 | — | $1.71 (+162.63%) |
Oct 13, 2026 14d ago | S-1/A | $0.8873 | awaiting T+60 | — | $1.71 (−92.72%) |
Oct 13, 2026 14d ago | 425 | $0.8873 | awaiting T+60 | — | $1.71 (+92.72%) |
Sep 28, 2026 29d ago | 8-K | $1.74 | awaiting T+60 | — | $1.71 (−1.72%) |
Sep 24, 2026 4w ago | 424B5 | $1.82 | awaiting T+60 | — | $1.71 (+6.04%) |
Sep 24, 2026 4w ago | 8-K | $1.82 | awaiting T+60 | — | $1.71 (+6.04%) |
Sep 23, 2026 4w ago | 425 | $2.03 | awaiting T+60 | — | $1.71 (−15.76%) |
Sep 23, 2026 4w ago | 8-K | $2.03 | awaiting T+60 | — | $1.71 (−15.76%) |
Sep 18, 2026 5w ago | 8-K | $2.30 | awaiting T+60 | — | $1.71 (−25.65%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers