Company: HCTI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045994
Chunk: 86

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 86
---
 Grant
Date Fair

    Number of
Warrants

    Value Per
warrant

    Unvested on January 1, 2025

    590,878

    $
    3.51

    Granted

    —

    —

    Vested

    (48,363
    )

    3.91

    Forfeited

    —

    —

    Unvested on March 31, 2025

    542,515

    $
    3.47

The following table summarizes the activities for our unvested warrants
for the year ended December 31, 2024.  

    Weighted average Grant Date Fair 

    Number of Warrants  
    Value Per warrant 
  
    Unvested on January 1, 2024 
     784,329  
    $3.91 
  
    Granted 
     —  
     — 
  
    Vested 
     (48,363) 
     3.91 
  
    Forfeited 
     —  
     — 
  
    Unvested on March 31, 2024 
     735,966  
    $3.91 

20

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

C. Short term borrowing

    Particulars 
    March 31, 
2025  
    December 31, 
2024 
  
    Short Term Borrowing 

    Seacoast Business Funding 
    $775  
    $589 
  
    Convertible note 
     -  
     2,061 
  
    Total 
    $775  
    $2,650 

(i) Seacoast Business Funding

The Company obtained a credit facility from Seacoast
business funding (SBF), a division of Seacoast National Bank during the year ended December 31, 2022. The funding is against the accounts
receivable of the company and its subsidiary. The SBF facility incurs an interest rate 8.5% for the quarter ended March 31, 2025 and 8.9%
for the quarter ended December 31, 2024. The value of invoices funded during the quarter ending March 31, 2025, was $1,938 and $2,022
for the quarter