Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 335

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 335
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’s Certificate of Incorporation
provides for a class of its authorized stock known as preferred stock, comprised of 10,000,000 shares, $0.00001 par value per share (the
“Preferred Stock”), issuable from time to time in one or more series.

Series A Preferred Stock

With respect to payment of dividends and distribution of assets upon liquidation, dissolution, or winding up of
the Corporation, whether voluntary or involuntary, the Series A Convertible Preferred Stock will rank: (i) senior to all other classes
or series of capital stock of the Corporation now existing or hereafter authorized, classified or reclassified, and (ii) junior to all
Indebtedness of the Corporation now existing or hereafter authorized (including Indebtedness convertible into Common Stock).

The holders
of the Series A Convertible Preferred Stock shall not be entitled to receive dividends paid on the Corporation's Common Stock.

With respect to payment of dividends and distribution
of assets upon liquidation, dissolution, or winding up of the Corporation, whether voluntary or involuntary, the Series B Convertible
Preferred Stock will rank: (i) senior to all other classes or series of capital stock of the Corporation now existing or hereafter authorized,
classified or reclassified, and (ii) junior to all Indebtedness of the Corporation now existing or hereafter authorized (including Indebtedness
convertible into Common Stock).

The holders of the Series B Convertible Preferred
Stock shall not be entitled to receive dividends paid on the Corporation's Common Stock.

Series B Preferred Stock

On
October 21, 2024, the Company acquired the customer contracts from SecureKloud Technologies, Inc (a common control entity) and in consideration
for the acquired assets, issued 1,600,000 shares of Series B Convertible Preferred Stock (“Series B Preferred Stock”) which
is/are convertible each into 10 common shares at the holder’s option (subject to shareholder’s approval). The Company did
not record revenue during the financial year ended December 31, 2024, since the customer contracts were not in the Company’s name
and the Company is waiting for the contracts to novate in order to recognize revenue accordingly. The Series B Preferred Stock were valued
at USD 7.44 million. 

The authorized Preferred Stock as of December 31, 2024, was 8,394,000.

F-20

9) Debt Securities

A.