Glucotrack and Lōkahi Therapeutics have completed their strategic business combination, establishing a publicly listed platform controlled by Lōkahi. Under the deal, Lōkahi becomes the operating and controlling business, with its securityholders expected to hold approximately 90% of the combined company on a fully diluted basis upon conversion of preferred stock, subject to approvals and Nasdaq listing requirements. Erik Emerson has been appointed CEO of the combined company, while Paul Goode will serve as Chief Technical Officer and CEO of the CBGM subsidiary. Glucotrack's continuous blood glucose monitoring business will operate as a wholly owned subsidiary with separate operations and capital structure. A planned private placement financing will support the combined company's capital position, with a portion of proceeds allocated to the CBGM technology.
GlucoTrack IncBusiness combination with Lōkahi, new CEO, and planned financing; unclear net impact on Glucotrack shareholders given dilution and control shift.