Healthcare Triangle, Inc. (NASDAQ: HCTI) has successfully closed a private investment in public equity (PIPE) offering, generating gross proceeds of approximately $15.2 million. The transaction, priced at market rates under Nasdaq rules, involves 36,190,485 units comprising shares, pre-funded warrants, and series A and B warrants.
The offering provides the digital transformation solutions provider with net proceeds of approximately $13.68 million after deducting placement agent fees and expenses. The company plans to allocate these funds toward future acquisitions, general corporate purposes, and working capital requirements.
By securing this capital, Healthcare Triangle has ensured compliance with Nasdaq's minimum stockholders' equity requirement of $2,500,000. The strategic financing positions the company to potentially expand its service offerings in cloud enablement, cybersecurity, and data analytics for healthcare and life sciences industries.
RBW Capital Partners LLC and Spartan Capital Securities, LLC served as co-placement agents for the transaction, with legal counsel provided by Sichenzia Ross Ference Carmel LLP and Manatt, Phelps & Phillips, LLP.
The offering underscores Healthcare Triangle's ongoing commitment to technological innovation and financial stability in the rapidly evolving healthcare technology landscape.
