Healthcare Triangle, Inc. Completes $2.0 Million Private Placement Debt Offering

Healthcare Triangle, Inc. (Nasdaq: HCTI) ("Healthcare Triangle," "HCTI" or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, data analytics, and AI data processing for the healthcare and life sciences industries, today announced the execution on December 28, 2023 of a securities purchase agreement with an institutional investor for the sale of $2.0 million in aggregate principal amount of its senior secured 15% original issue discount convertible promissory notes, due June 28, 2025, along with warrants to purchase 357,500 shares of common stock with an exercise price of $3.44688 per share in a private placement transaction (the "Offering"). Due to the original issue discount, the Company received gross proceeds of approximately $1.7 million and net proceeds, after deducting offering expenses, of approximately $1.5 million. There may be additional potential closings, for up to an additional $3.2 million aggregate principal amount, subject to additional conditions detailed in the transaction documents.

"This capital funding enables us to address a number of unmet critical needs in the healthcare industry and further builds upon the Company's growth to become a premier healthcare IT provider in the U.S. with its services and offerings," said Thyagarajan Ramachandran, Chief Financial Officer of HCTI.

"The global healthcare IT market is projected to surpass $970 billion by 2027. We are aware of the many challenges facing healthcare and have a suite of services to fill the need and demand. Our innovative solutions help organizations adopt a cloud-first strategy to improve outcomes, quality, access and cost of healthcare. With this added capital, we can further support key initiatives, that are more important during this time."

In connection with the Offering, the Company relied upon the exemption from registration provided under Section 4(a)(2) and Rule 506(b) under the Securities Act of 1933, as amended (the "Securities Act"), for transactions not involving a public offering. The notes, any shares of common stock issuable upon conversion of the notes, the warrants and any shares of common stock issuable upon exercise of the warrants have not been registered under the Securities Act, or under any U.S. state securities laws or in any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. The Company intends to file a registration statement in the near future to register these securities.

Additional details on the transaction are available in the Company's Form 8-K, which has been filed with the U.S. Securities and Exchange Commission and is available at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Shares of SECUREKLOUD TECHNOLOGIES LIMITED was last trading in BSE at Rs. 55.28 as compared to the previous close of Rs. 51.98. The total number of shares traded during the day was 68819 in over 1053 trades.

The stock hit an intraday high of Rs. 57.17 and intraday low of 51.98. The net turnover during the day was Rs. 3814639.00.

Source : Equity Bulls

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SECUREKLOUDTECHNOLOGIES INE650K01021 HealthcareTriangle FundRaising HCTI