Business
Healthcare Triangle Closes $500,000 Private Placement of Common Stock Priced Above The Market
PLEASANTON, Calif., April 10, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation
About this update from Healthcare Triangle, Inc.
[{"type":"text","content":"PLEASANTON, Calif., April 10, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (Nasdaq: HCTI) (“HCTI” or the \"Company\"), a leader in digital transformation solutions including managed services, cloud enablement, and data analytics for the healthcare and life sciences industry, today announced the closing of a private placement of 769,231 shares of its common stock for a purchase price of $0.65 per share, generating aggregate gross proceeds to the Company of $500,000. Net proceeds from the sale of the securities will be used for working capital purposes. “This cash infusion will support our continuous innovation and development of tools that reinforce healthcare progress through digital transformation,” said Thyagarajan Ramachandran, Chief Financial Officer of Healthcare Triangle. “We appreciate the vote of confidence in our Company that this investment represents.” 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. The shares sold by the company in the private placement have not been registered for sale under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company. About Healthcare Triangle Healthcare Triangle, Inc. based in Pleasanton, California, reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare providers including hospitals and health systems, payers, and pharma/life sciences organizations in their effort to improve health outcomes. Healthcare Triangle achieves HITRUST Certification for Cloud and Data Platform (CaDP), marketed as CloudEz™ and DataEz™. HITRUST Risk-based, 2-year (r2) Certified status demonstrates to our clients the highest standards for data protection and information security. Healthcare Triangle enables the adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for ex...