Glucotrack completed a strategic business combination with Lōkahi Therapeutics, creating a publicly listed platform controlled by Lōkahi.
Lōkahi became the operating and controlling business, using the public listing to support asset sourcing and late-stage clinical development.
Ownership, financing, and legacy business structure
Lōkahi securityholders received common stock and convertible preferred stock; conversion could leave them with about 90% fully diluted ownership.
A planned private placement financing is set to bolster capital, with part of proceeds earmarked for Glucotrack’s legacy CBGM technology.
The CBGM business will run as a wholly owned subsidiary with separate operations and capital structure; Erik Emerson named CEO, Paul Goode CTO and CBGM subsidiary CEO.
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