Business
Health In Tech Announces Closing of $7.0 Million Private Placement
Health In Tech, Inc. (Nasdaq: HIT) ("Health In Tech" or the "Company"), an AI-enabled InsurTech platform company, today announced the closing of its previously announced private investment in public equity financing (the "PIPE"), resulting in gross proceeds of approximately $7.0 million before deducting placement agent fees and offering expenses.
About this update from Health In Tech, Inc.
[{"type":"text","content":"STUART, Fla., March 27, 2026 /PRNewswire/ -- Health In Tech, Inc. (Nasdaq: HIT) ("Health In Tech" or the "Company"), an AI-enabled InsurTech platform company, today announced the closing of its previously announced private investment in public equity financing (the "PIPE"), resulting in gross proceeds of approximately $7.0 million before deducting placement agent fees and offering expenses.","length":423,"tagName":"p"},{"type":"image","alt":"Health In Tech Logo (PRNewsfoto/Health In Tech Inc.)","displaySize":"","headline":null,"caption":"Health In Tech Logo (PRNewsfoto/Health In Tech Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":310,"height":162,"url":"https://media.zenfs.com/en/prnewswire.com/8fe7f44e7a6ee5f0aed6ae895e79d506"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/eFTOkHvL9BEMQVG6v4CUCw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIxOQ--/https://media.zenfs.com/en/prnewswire.com/8fe7f44e7a6ee5f0aed6ae895e79d506","width":310,"height":162}},"href":"https://mma.prnewswire.com/media/2936264/Health_In_Tech_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The PIPE included participation from institutional investors and accredited investors. The Company issued an aggregate of 5,600,000 shares of common stock at a price of $1.25 per share.","length":185,"tagName":"p"},{"type":"text","content":"Craig-Hallum Capital Group LLC acted as the sole placement agent for the PIPE. Loeb & Loeb LLP acted as counsel to the Company. Faegre Drinker Biddle & Reath LLP acted as counsel to the placement agent.","length":210,"tagName":"p"},{"type":"text","content":"Strengthening Financial Flexibility to Support Strategic Growth","length":63,"tagName":"p"},{"type":"text","content":""This financing strengthens our ability to accelerate the next phase of our platform development," said Tim Johnson, Chief Executive Officer of Health In Tech. "The additional capital will support key technology initiatives and help us bring new product capabilities to market that our clients have been actively requesting. As we continue expanding the functionality of our platform, we believe it will deepen customer engagement and support sustained, scalable revenue growth."","length":499,"tagName":"p"},{"type":"text","content":"Use of Proceeds","length":15,"...