Business
Healthcare Triangle, Inc. Announces Pricing of $13.0 Million Initial Public Offering
PLEASANTON, Calif., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. ("HTI" or the "Company"), a leader in the public cloud for Hospitals, Health
About this update from Healthcare Triangle, Inc.
[{"type":"text","content":"PLEASANTON, Calif., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (\"HTI\" or the \"Company\"), a leader in the public cloud for Hospitals, Health Systems and Life Sciences today announced the pricing of its initial public offering of 3,262,500 shares of common stock (the “Common Stock”) at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $13.0 million, prior to deducting underwriting discounts, commissions, and offering expenses. In addition, the Company has granted the underwriters a 45-day over-allotment option to purchase up to an additional 489,375 shares of Common Stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 15, 2021, subject to satisfaction of customary closing conditions. The Company has received approval to list its Common Stock on The Nasdaq Capital Market, with its Common Stock trading under the symbol “HCTI”, with trading expected to begin on October 13, 2021. The net proceeds from the initial public offering will be used for acquisitions (although the Company has no current plans, arrangements or agreements for any acquisitions), convertible note repayment, working capital, and for general corporate purposes. EF Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager for the offering. The Securities and Exchange Commission (“SEC”) declared effective HTI’s registration statement on Form S-1, as amended (File No. 333-259180) (the “Registration Statement”), on October 12, 2021. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offering is being made only by means of a prospectus. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton, a division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unla...