GlucoTrack issues $2 million 5% convertible note to Alto Opportunity Master Fund in settlement deal
GCTK•Settlement includes convertible note and cash payment
GlucoTrack entered a settlement with Alto Opportunity Master Fund that includes a $2 million convertible promissory note.
- The note carries 5% interest and is to be paid in four $500,000 quarterly principal installments from Nov. 30, 2026 to Aug. 31, 2027.
- Alto can convert principal into common stock at $2.98 per share, subject to a 9.99% ownership cap.
- The settlement also requires an initial $2 million cash payment, with up to $125,000 of Alto legal fees.
- Missed payments beyond a five-business-day cure period can trigger acceleration of amounts due under the settlement and note.
