Healthcare Triangle, Inc. Announces Pricing of $13.0 Million Initial Public Offering

Triangle, Inc. Announces Pricing of $13.0 Million Initial Public Offering

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

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.

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.

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.

Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager for the offering.

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. A final prospectus relating to the offering will

be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. The offering is being made only by means

of a prospectus. 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.

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.

Healthcare Triangle, Inc. (HTI)

Triangle, Inc. (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 reinforces healthcare progress by enabling the adoption of new technologies, data enlightenment, business agility, and response to

the immediate business needs of healthcare organizations. Visit www.healthcaretriangle.com for more information.

press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial

public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements

are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking

statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information

available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions

and are subject to various risks and uncertainties, including, without limitation, those set forth in the Risk Factors section of the

Company's Registration Statement and preliminary prospectus for the offering filed with the SEC. Thus, actual results could be materially

different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise,

after the date of this release, except as required by law.

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