Healthcare Triangle (HCTI), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, and data analytics for the healthcare and life sciences industries, announced a PIPE offering for gross proceeds of approximately $15.2 million, prior to deducting placement agent fees and other expenses payable by the company.

The PIPE offering consists of 36,190,476 units consisting of (i) one share of common stock and/or one pre-funded warrant to purchase one share of common stock at an exercise price of $0.00001 per share, (ii) one series A warrant to purchase one share of common stock at an exercise price of $0.84 (subject to adjustments), and (iii) one series B warrant to purchase one share of common stock at an exercise price of $0.84 (subject to adjustments). Additional details on the transaction will be available in the Company's Form 8-K, which will be filed with the U.S. Securities and Exchange Commission and available at www.sec.gov.

RBW Capital (a division of Dawson James Securities) and Spartan Capital Securities acted as the co-placement agents in connection with the offering.

The common stock, the pre-funded warrants, the series A warrants, the series B warrants and the common stock issuable upon the conversion of the pre-funded warrants, the series A warrants, and the series B warrants have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, until so registered, may not be offered or sold in the United States or any state absent registration or an applicable exemption from registration requirements.