Company: HCTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076686
Chunk: 89

Company: Healthcare Triangle, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 Stock underlying
the Pre-Funded Warrants and the Purchase Warrants are collectively referred to herein as the “Securities” and the Securities,
other than the Pre-Funded Warrants, and the Purchase Warrants shall be referred to herein as the “Registrable Securities.”
The entire transaction has been priced at the market under Nasdaq rules and closed on February 28, 2025. 

The initial exercise price for both the Series
A Warrants and Series B Warrants is $209.16 per share and both terminate on the fifth anniversary of the later of (x) effective date of
stockholder approval and (y) the earlier of (i) the effective date of the registration statement (the “Registration Statement”)
filed by the Company to register the Registerable Securities or (ii) the date that the Registerable Securities can be sold, assigned or
transferred without restriction or limitation pursuant to Rule 144 promulgated under the 1933 Act, as amended. The Purchase Warrants may
not be exercised until stockholder approval of the exercise of the Purchase Warrants is effective (“Stockholder Approval”).
The Company has agreed in the Purchase Agreement to obtain Stockholder Approval within 60 days of the closing date of the offering.

The Company received gross proceeds of approximately
$15,200 . Net proceeds to the Company were approximately $13,676 , after deducting placement agent fees and other expenses payable by
the Company.

The Company allocated the proceeds between the
Common Stock, Pre-Funded Warrants, and Common Warrants (some of which were exercisable on cash basis, whereas others were exercisable
on an alternative cashless basis) on a relative fair value basis and recorded the amount allocated to the Common Warrants within additional
paid-in capital on the accompanying consolidated balance sheet as the Common Warrants met all the criteria for equity classification.
During the quarter ended June 30, 2025, all of the prefunded warrants have been converted into equity and all of the alternative cashless
warrants have been exercised. As the remaining Common Warrants were equity classified, they do not require subsequent remeasurement after
the issuance.

The Common Warrants contain standard adjustments
to the exercise price including stock splits, stock dividend, rights offerings and pro rata distributions.

On June 16, 2025, Healthcare Triangle, Inc and
Niyama Healthcare, Inc., a Delaware corporation, a provider of Mental Health and Hospital Information Systems technology, across India