Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 436

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 436
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% of the total principal amount
multiplied by the quotient determined by dividing one by the number of months remaining until the maturity date as of the initial payment
date (the “Monthly Payments”), until the principal amount has been paid in full prior to or on the maturity date or,
if earlier, upon acceleration, conversion or redemption of the Note in accordance with its terms.

The Monthly Payments are payable in cash; provided
that subject to certain limitations the Company may elect to pay all or part of a Monthly Payment in Conversion Shares in lieu of a cash
payment based on a price per share equal to the lower of (i) conversion price then in effect, and (ii) 95% of the average of the three
lowest daily volume weighted average prices of the common stock during the 20 trading days immediately preceding the applicable payment
date, subject to adjustment and to the floor price set forth in the applicable Note. If for any Monthly Payment the number of Conversion
Shares issued as payment is limited by the floor price, the Company is required to pay the economic difference in cash.

On December 28, 2023, the Company issued Senior
Secured 15% Original Issue Discount Convertible Promissory Note for an initial amount of $2,000,000 of convertible notes with an annual
interest rate of 18% and a maturity term of 18 months. In connection with this issuance, the Company also issued 357,500 warrants, each
allowing the holder to purchase shares of the Company’s common stock at an exercise price of $3.44688, exercisable until December
28, 2028.

F-21

The Company recorded $0 for the year ended December 31, 2024 and $435,000 as debt discount and $356,000 using the relative fair value
method for the period December 31, 2023. 

The Company has amortized $702,000 of debt discount
during the period ended December 31, 2024 and $0 for the year ended December 31, 2023.

(i)

    Date 
    Installment  
    Loan  
    Conversion
    fees  
    Total
    repayment  
    Conversion
    price  
    No
    of
    shares  
    Equity  
    APIC 
  
    2/14/2024 
    1  
    $125,000  
    $6,250  
    $131,