Company: HCTI
Filing Date: 2025-03-17
Form Type: DEF 14C
Source: 0001213900-25-024319
Chunk: 16

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-17
Form: DEF 14C
Chunk 16
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 a cash exercise rather than a cashless exercise, multiplied by (ii) 3.0. On February 24, 2025, the Majority Stockholders approved by written consent the all of the terms of the Purchase Warrants, including, but not limited to the exercise of the Purchasea Warrants and the resulting issuance of Common Stock pursuant to the terms of the Purchase Warrants as described above. Nasdaq Stockholder Approval Requirement; Reasons for the Warrant Exercise Approval Nasdaq Listing Rule 5635(d) requires stockholder approval in connection with a transaction, other than a public offering, involving the sale or issuance by the issuer of common stock (or securities convertible into or exchangeable for common stock) equal to 20% or more of the common stock or 20% or more of the voting power of such company outstanding before the issuance for a price that is less than the lower of: (i) the closing price of the common stock immediately preceding the signing of the binding agreement for the issuance of such securities and (ii) the average closing price of the common stock for the five trading days immediately preceding the signing of the binding agreement for the issuance of such securities. Because of Nasdaq Listing Rule 5635(d), the Purchase Warrants provide that they may not be exercised, and therefore have no value, until the effective date of stockholder approval of their exercise. In determining whether an offering qualifies as a public offering, Nasdaq considers all relevant factors, including the extent of any discount to market price. In determining discount, Nasdaq can attribute a value to each warrant that contains an alternative cashless exercise Nasdaq could attribute a value of for each warrant that would fully discount the securities being offered. In order to ensure that the Unit offering qualified as a public offering under Rule 5635 due to the value attributable to the Purchase Warrants, the Purchase Warrants provide that they may not be exercised — and therefore have no value — until stockholder approval of their exercise is obtained and is effective. Interest of Certain Persons in Matters to Be Acted Upon No director or executive officer has any substantial interest, direct or indirect, by security holdings or otherwise, in this Proposal that is not shared by all of our other stockholders. 9

ACTIONS AUTHORIZED AND APPROVED The actions that were taken by the Company’s Board of Directors and by its Majority Stockholder(s) were the authorization and approval of the Corporate Actions, respectively. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table