Healthcare Triangle Secures $15.2 Million in Private Investment, Strengthens Financial Position
TL;DR
Healthcare Triangle, Inc. announced a PIPE offering, raising $15.2 million for digital solutions, giving them a competitive financial advantage.
The PIPE offering included 36,190,485 units, each consisting of shares, warrants, and priced under Nasdaq rules.
Healthcare Triangle's digital transformation solutions aim to improve healthcare outcomes through data utilization, benefiting patients and industry progress.
HCTI's HITRUST Certification for Cloud and Data Platform demonstrates their commitment to data protection and new technologies in healthcare.
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Healthcare Triangle, Inc. (NASDAQ: HCTI) has successfully closed a private investment in public equity (PIPE) offering, generating gross proceeds of $15.2 million. The digital transformation solutions provider for healthcare and life sciences industries priced the entire transaction at market rates under Nasdaq regulations.
The offering consisted of 36,190,485 units, each comprising a common stock or pre-funded warrant, a series A warrant, and a series B warrant. With a per-unit price of $0.42, the company will net approximately $13.68 million after placement agent fees and expenses.
The company plans to utilize the net proceeds for future acquisitions, general corporate purposes, and working capital requirements. Importantly, the capital infusion ensures the company's compliance with Nasdaq's minimum stockholders' equity requirement of $2.5 million.
RBW Capital Partners LLC and Spartan Capital Securities, LLC served as co-placement agents for the transaction. The offering provides Healthcare Triangle with financial flexibility to potentially expand its digital transformation and cybersecurity services in the healthcare sector.
Curated from NewMediaWire
