Company: HCTI
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-027277
Chunk: 35

Company: Healthcare Triangle, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 35
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i) the effective date of the registration statement (the “Registration Statement”)
filed by the Company to register the underlying securities or (ii) the date that the underlying securities can be sold, assigned or transferred
without restriction or limitation pursuant to Rule 144 promulgated under the 1933 Act, as amended.

The securities were issued and sold in reliance
upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) promulgated
thereunder since, among other things, the issuance was made without any public solicitation to a limited number of accredited investors
and/or qualified institutional buyers and were acquired for investment purposes only.

<div align='center'>II-2</div>

Private Placement in December 2023

On December 28, 2023, the Company entered into
the Securities Purchase Agreement with the selling stockholder, pursuant to which the Company agreed to issue to the selling stockholder,
in a private placement (the “Private Placement”), Senior Secured 15% Original Issue Discount Convertible Promissory Notes
(the “Notes”) in the aggregate principal amount of up to $5,200,000 which will result in gross proceeds to the Company in
the amount of up to $4,420,000 due to the original issue discount, and warrants (the “Warrants”) to purchase a number of shares
of the Company’s common stock (the “Warrant Shares”) equal to 50% of the face value of the Notes divided by the volume
weighted average price, in three tranches.

Under the first tranche of funding, which closed
upon signing of the Securities Purchase Agreement on December 28, 2023, the Company issued a Note to the Investor in the principal amount
of $2,000,000 which resulted in gross proceeds to the Company of $1,700,000 (the “First Tranche Note”) and Warrants to purchase
up to an aggregate of 357,500 Warrant Shares (the “First Tranche Warrants”).

Each Note matures 18 months after issuance, does
not bear any interest unless an event of default occurs, in which case the Note will bear interest at an annual rate of 18%, and is convertible
into shares of the Company’s Common Stock (the “Conversion Shares”) at an initial conversion price equal to $3.44688,
provided that if an event of default has occurred and is continuing