Healthcare Triangle acquires cloud assets of SecureKloud for $7.2M in Series B Convertible Preferred Stock

Healthcare Triangle, Inc.

Acquired cloud and technology business assets of SecureKloud Technologies, Inc. for 1,600,000 shares of Series B Convertible Preferred Stock valued at $7.2 million.
Series B Preferred is convertible into 10 common shares each at holder's option, subject to shareholder approval and Nasdaq rules.
Received waiver of prior default from Seacoast National Bank on October 21, 2024; now in compliance under the Purchasing Agreement.
Filed Certificate of Designations for Series B Preferred with Delaware on October 22, 2024; no voting or dividend rights.
Transaction closed on October 22, 2024 at Seller's place of business; consideration payable in equity based on 30-day VWAP.

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