Company: HCTI
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001213900-25-112544
Chunk: 19

Company: Healthcare Triangle, Inc.
Filing Date: 2025-11-19
Form: 424B5
Chunk 19
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 Increase in net tangible book value per share attributable to pro forma adjustments described above |     |   | 0.12 |     |   |      |
| Pro forma net tangible book value per share as of September 30, 2025                                |     |   | 0.76 |     |   |      |
| Increase in pro forma net tangible book value per share attributable to this                        
 offering                                                                                            |     |   | 0.72 |     |   |      |
| As-adjusted net tangible book value per share after giving effect to this offering                  |     |   |      |     |   | 1.48 |
| Dilution per share to new investors participating in this offering                                  |     |   |      |     | $ | 0.61 |

The table above assumes, for illustrative purposes,
that an aggregate of 9,569,377 shares of our common stock are sold at an offering price of $2.09 per share, the last reported sale price
of our common stock on the Nasdaq Capital Market on November 14, 2025, for aggregate gross proceeds of $20,000,000. However, the shares
sold in this offering, if any, will be sold from time to time at various prices.

The above discussion and table are based on approximately 7,261,344 shares of our common stock outstanding as of November 14, 2025, and
does not include:

| ● | up to 1,429,528 shares of common stock issuable upon the exercise of the PIPE Warrants; |

| ● | up to 28,590 shares of common stock issuable upon the exercise 
 of the FA Warrants;                                            |

| ● | up to 23,905 shares of common stock issuable at an exercise 
 price of $20.916 upon the exercise of warrants;             |

| ● | up to 2,449 shares of common stock issuable at exercise price 
 of $2,654.34 upon the exercise of warrants;                   |

| ● | up to 1,436 shares of common stock issuable at exercise price 
 of $858.273 upon the exercise of warrants;                    |

| ● | up to 160,853 shares of common stock issuable upon the exercise                                                         
 of outstanding options awarded under our 2020 Stock Incentive Plan at a weighted exercise price of $8.58 per share; and |

| ● | the issuance of up to 3,839