E.F. Hutton served as exclusive financial advisor on the strategic business combination between Glucotrack and Lōkahi Therapeutics and as exclusive placement agent for a concurrent convertible note financing of approximately $5.7 million. The transaction creates a publicly traded healthcare platform combining Lōkahi Therapeutics' AI-driven asset sourcing with Glucotrack's Nasdaq listing, with Lōkahi becoming the operating and controlling business while Glucotrack's continuous blood glucose monitoring unit continues as a wholly owned subsidiary. The convertible note financing was placed with institutional investors, and net proceeds are expected to fund Lōkahi Therapeutics' post-closing operations and strategic initiatives. E.F. Hutton CEO Joseph T. Rallo stated the deal reflects the firm's commitment to guiding clients through strategic transactions and capital formation.
GlucoTrack IncGlucotrack is the surviving entity in a business combination with Lōkahi Therapeutics, but the impact on its own operations is unclear as Lōkahi becomes the controlling business.
E.F. Hutton acted as exclusive financial advisor and placement agent, earning fees from the transaction and financing.