BUSINESS: Healthcare Triangle, Inc. Announces Pricing For $13.0 Million Initial Public Offer

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

by Daniel Webster, dWeb.News Publisher

October 12, 2021 19: 44 ET | Source: Healthcare Triangle, Inc.

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. The final prospectus regarding the offering will be filed with SEC. It will be accessible on the SEC website, http://www.sec.gov. Only a prospectus is required for the offering. 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 syndicate@efhuttongroup.com 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 unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Healthcare Triangle, Inc. (HTI)

Healthcare Triangle, Inc.(tm) (HTI) is a leading healthcare information technology company focused on advancing innovative, industry-transforming solutions in the areas of cloud services, data science, professional and managed services for the healthcare and life sciences industry. HTI supports healthcare advancement by enabling healthcare organizations to adopt new technologies, data enlightenment and business agility. Visit http://www.healthcaretriangle.com for more information.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering. It is impossible to guarantee that the offering will take place on the terms or at all. Forward-looking statements are subjected to many conditions, many of them beyond the Company’s control. Although the Company believes that these forward-looking statements can be trusted, undue reliance shouldn’t be placed upon them. These statements are based only on information available at the time of the release. These forward-looking statements are made based on current estimates and assumptions. They are subject to various uncertainties, including those listed in the Risk Factors section and the preliminary prospectus filed with the SEC. Actual results may differ from those projected. These statements are not subject to revision, whether due to new information, future events, or any other reason, except as required by law.

Healthcare Triangle, Inc. Contact:

For Media Enquiries:

Michael Campana

michael.c@healthcaretriangle.com

Healthcare Triangle, Inc. Investor Relations:

John McNamara

john@tradigitalir.com

917-658-2602

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