Healthcare Triangle Announces $6.5 Million Private Placement

Triangle Announces $6.5 Million Private Placement

Calif., July 11, 2022 (GLOBE NEWSWIRE) - Healthcare Triangle Inc., (Nasdaq: HCTI) ("HCTI" or the "Company"),

a leading provider of cloud and data transformation solutions for healthcare and life sciences, today

announced that it has entered into a definitive agreement with a single institutional investor for the issuance and sale of 6,097,561

shares of common stock (or common stock equivalents in lieu thereof) in a private placement. The Company will also issue to the investor

unregistered preferred investment options (the "investment options") to purchase up to an aggregate of 6,097,561 shares of

common stock. The purchase price for one share of common stock (or common stock equivalent) and one investment option to purchase one

share of common stock is $1.066. The investment options have an exercise price of $1.066 per share, will become exercisable

six months following issuance date, and will have a term equal to five years following the issuance date. The private placement is expected

to close on or about July 13, 2022, subject to the satisfaction of customary closing conditions.

Wainwright & Co. is acting as the exclusive placement agent for the offering.

gross proceeds from the private placement are expected to be approximately $6.5 million, before deducting placement agent fees

and other offering expenses. The Company intends to use the net proceeds from the private placement for the working capital and other

general corporate purposes.

securities offered in the private placement and described above were offered in a private placement under Section 4(a)(2) of the Securities

Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and have not been registered under the Act or

applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States absent registration with

the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements. Pursuant

to a registration rights agreement with the investor, the Company has agreed to file one or more registration statements with the SEC

covering the resale of such securities.

press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale

of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration

or qualification under the securities laws of any such state or other jurisdiction.

Healthcare Triangle, Inc. (HCTI)

Triangle, Inc. based in Pleasanton, California., reinforces healthcare progress through breakthrough technology and extensive industry

knowledge and expertise. We support healthcare providers including hospitals and health systems, payers, and pharma/life sciences organizations

in their effort to improve health outcomes. Healthcare Triangle enables the adoption of new technologies, data enlightenment, business

agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries

rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, data lifecycle management,

healthcare interoperability, and clinical and business performance optimization.

statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined

in the Private Securities Litigation Reform Act of 1995), and include, among others, statements regarding the consummation of the private

placement, satisfaction of the customary closing conditions of the private placement and the use of the proceeds therefrom. Such forward-looking

statements include our expectations and those statements that use forward-looking words such as "projected," "expect,"

"possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements

involve significant risks, uncertainties and assumptions, including market and other conditions. Actual results could differ materially

from current projections or implied results. Investors should read the risk factors set forth in the Company's Annual Report on Form

10-K for the year ended December 31, 2021 on file with the Securities Exchange Commission (the "SEC") and in previous filings,

subsequent filings and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified

by all such risk factors and other cautionary statements.

Triangle, Inc. Contact:

Campana - michael.c@healthcaretriangle.com