Company: HCTI
Filing Date: 2025-04-22
Form Type: S-1/A
Source: 0001213900-25-034248
Chunk: 20

Company: Healthcare Triangle, Inc.
Filing Date: 2025-04-22
Form: S-1/A
Chunk 20
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 of shares of Common Stock that shall equal the product
of (x) the aggregate number of shares of Common Stock that would be issuable upon exercise of the Series B Warrant in accordance with
its terms if such exercise were by means of a cash exercise rather than through the zero exercise price option and (y) 3. As a result
of this feature, we do not expect to receive any cash proceeds from the exercise of the Series B Warrants because it is highly unlikely
that a Series B Warrant holder will elect to pay an exercise price in cash to receive one share of common stock when they could elect
the zero exercise price option in these circumstances to receive more shares of common stock than they would receive if they did pay
an exercise price. As an example, given the above provisions, holders of the Series B Warrants will be issued a maximum of 1,085,714,550
shares of Common Stock upon the exercise of the Series B Warrants. Each Series B Warrant includes one underlying share of common stock
that may be obtained by exercising the Series B Warrant at an exercise price of $0.84; however if the holder elects the zero exercise
price option, the number of shares of common stock could increase to up to 30 shares of common stock underlying each Series B Warrant
if the exercise price decreases to and equals the Floor Price at the time of such election. As such, holders of the Series B Warrants
may elect to be issued up to 1,085,714,550 shares of common stock upon the exercise of the Series B Warrants assuming the Floor Price.

Pursuant to the Purchase Agreement,
the Company has agreed that until ninety (90) days after the effective date of the Registration Statement, neither the Company nor any
of its subsidiaries shall (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of
Common Stock or Common Stock equivalents or (ii) file any registration statement or any amendment or supplement thereto, in each case
other than as contemplated pursuant to the Registration Rights Agreement (as defined below) or, solely with respect to securities issued
pursuant to any share or option plan duly adopted for such purpose by the Company’s board of directors or a committee of non-employee
directors established for such purpose for services rendered to the Company, on Form S-8. However, the Company shall be permitted to issue
up to 500,000 options to purchase