Healthcare Triangle Inc., (Nasdaq: HCTI) (“HCTI” or the “Company”), a leading provider of cloud and data transformation solutions for healthcare and life sciences, today announced the closing of its previously announced private placement with a single institutional investor (“Investor”) for the issuance and sale of 6,097,561 shares of common stock (or pre-funded warrant in lieu thereof). The Company also issued to the Investor unregistered preferred investment options (the “Preferred Investment Option”) to purchase up to an aggregate of 6,097,561 shares of common stock. The purchase price for one share of common stock (or pre-funded warrant) and one Preferred Investment Option to purchase one share of common stock was $1.066. The Preferred Investment Options have an exercise price of $1.066 per share, will become exercisable six months following the issuance date, and have a term equal to five years following the issuance date.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds from the private placement were approximately $6.5 million, before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds from the private placement for working capital and other general corporate purposes.
The securities offered in the private placement and described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. Pursuant to a registration rights agreement with the investor, the Company has agreed to file one or more registration statements with the SEC covering the resale of such securities.
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.
