Company: HCTI
Filing Date: 2025-11-21
Form Type: 8-K
Source: 0001213900-25-113672
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Company: Healthcare Triangle, Inc.
Filing Date: 2025-11-21
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into a Material Definitive
Agreement.

On November 20, 2025, Healthcare Triangle, Inc.,
a Delaware corporation, (the “ Company”), entered into a Securities Purchase Agreement (“ Purchase Agreement”)
with certain institutional investors (the “ Investors”). Under the Purchase Agreement, the Company has agreed to issue 20%
original issue discount senior unsecured convertible promissory notes (“ Notes”) in an aggregate original principal amount
of up to $15,000,000, which will be convertible into shares of the Company’s common stock, par value $0.00001 per share (“ Common
Stock”). The closing of the first tranche was consummated on November 20, 2025, and the Company issued the initial Note for an
aggregate original principal amount of $7,500,000 (the “ Initial Tranche”). The Note issued in the Initial Tranche was sold
to the Investors for a purchase price of $6,000,000, representing an original issue discount of twenty percent (20%), and matures on
November 20, 2026. The second Note will be an aggregate original principal amount of $7,500,000 and will be issued after the satisfaction
of certain conditions precedent, including the Company having an effective registration statement for the resale of the shares of Common
Stock issuable pursuant to the conversion of the Notes. The Company may request that the Investor purchase up to $15 million of additional
Notes, which is subject to the approval of the Investors.

The Notes rank
senior to all future indebtedness of the Company and pari passu with all other Notes issued under the Purchase Agreement. Any unpaid
amount bears interest at the past due rate of 18% per annum. The Notes are convertible at any time after the issuance date at the
election of the holder. The conversion price is the greater of (i) eighty percent (80%) of the lowest Closing Price during the five
trading days immediately preceding the conversion date and (ii) $0.38 per share. Upon receipt of a conversion notice, the Company
must deliver the applicable shares no later than one trading day thereafter. Failure to timely deliver shares results in liquidated
damages equal to two percent (2%) of the outstanding principal amount per month until cured. The Notes include customary events of
default and provide that upon an uncured Event of Default the Mandatory Default Amount becomes immediately due and payable.

In connection with the
Purchase Agreement, on