Healthcare Triangle, Inc. Announces 1-for-249 Reverse Stock Split to Meet Nasdaq Compliance
TL;DR
Healthcare Triangle's reverse stock split aims to boost share price, offering investors a strategic advantage by regaining Nasdaq compliance and potentially enhancing stock value.
Healthcare Triangle will convert every 249 shares into one, reducing outstanding shares from 1.45 billion to approximately 5.83 million to meet Nasdaq's minimum bid price requirement.
Healthcare Triangle's strategic financial restructuring supports its mission to advance healthcare technology, ensuring continued innovation and improved health outcomes for communities worldwide.
Healthcare Triangle embarks on a 1-for-249 reverse stock split, a bold move to align with Nasdaq standards and secure its market position.
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Healthcare Triangle, Inc. (Nasdaq: HCTI), a prominent provider of digital transformation solutions for the healthcare and life sciences sectors, has announced a 1-for-249 reverse stock split of its common stock. This strategic move, approved by stockholders on February 26, 2025, is set to take effect at 12:01 a.m. Eastern Time on August 1, 2025. The company's shares will begin trading on a post-split basis on the Nasdaq Capital Market the same day, under the existing symbol 'HCTI', with a new CUSIP number 42227W 306 assigned.
The reverse stock split aims to elevate the per-share price of Healthcare Triangle's common stock, a critical step towards regaining compliance with the Nasdaq Capital Market's $1.00 minimum bid price requirement. Post-split, every 249 shares of the company's issued and outstanding common stock will be consolidated into one share, maintaining the par value at $0.00001 per share and not altering the total number of authorized shares. This adjustment will significantly reduce the outstanding shares from approximately 1,452,124,283 to about 5,831,850. Fractional shares will not be issued; instead, stockholders will see their holdings rounded up to the nearest whole share at the participant level.
Stockholders recorded by August 1, 2025, will receive updated share ownership details from VStock Transfer, LLC, the company's transfer agent. Further information regarding the reverse stock split is available in the Company's definitive information statement on Schedule 14C, filed with the U.S. Securities and Exchange Commission on March 17, 2025, and accessible at https://www.sec.gov.
This reverse stock split represents a pivotal moment for Healthcare Triangle as it seeks to stabilize its market position and ensure continued listing on the Nasdaq Capital Market. The move underscores the company's commitment to maintaining investor confidence and adhering to regulatory standards, which are crucial for its long-term growth and sustainability in the competitive healthcare technology sector.
Curated from NewMediaWire
