Company: HCTI
Filing Date: 2025-05-08
Form Type: CORRESP
Source: 0001213900-25-041191
Chunk: 1

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-08
Form: CORRESP
Chunk 1
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daq has halted trading in the company's securities pending hearings to determine whether the offerings resulting in substantial dilution to shareholders are in the public interest and raise specific delisting concerns. See Item 3.01 Form 8-K filed by Damon, Inc. on April 30, 2025 (File No. 1-42190). Disclose any other actions contemplated by the Company following this offering, such as a reverse stock split, that could affect the holdings of shareholders. |

Company Response:On February
26, 2025 (two days prior to the closing of the Private Placement), the Company received a deficiency notice from Nasdaq, notifying the
Company that it was not in compliance with the minimum bid price rule. The Company has included disclosure on page 10 of the Amended Registration
Statement under “The Private Placement-Background” that one of the purposes of entering into the securities purchase agreement
was to regain compliance with the Nasdaq stockholders’ equity rule. The Company has also included additional risk factors of the
risks that the offering may not result in the Company's securities remaining listed on Nasdaq. However, on page 10, under The Private
Placement—Background,” the Company has disclosed that the Private Placement has in fact resulted in the Company regaining
compliance with Nasdaq’s $2.5 million stockholders equity rule. A risk factor has been added that discloses the discretionary authority
Nasdaq has to make a delisting determination and suspend trading of its common stock if it determines that the issuance and exercise of
the zero exercise price warrants are not in the public interest and that Nasdaq has previously made this determination with respect to
a company that has issued zero exercise price warrants. However, there are a number of distinguishing factors between the events that
led Nasdaq to determine to delist and suspend trading the securities of Damon Inc. (“Damon”) on one hand and the Company’s
listing status with Nasdaq and the Private Placement by the Company on the other, which are as follows:

| (i) | Damon is listed on the Nasdaq Global Market, which has more stringent continued listing requirements,                                         
 such as requirement that Damon maintain at least $15 million in market value of its publicly held shares (the “MVPHS Rule”).                  
 The Company is listed on the Nasdaq Capital Market and is not subject to the MVPHS Rule. This is important because at the time Damon received 
 its delisting determination notice and was informed that the trading its