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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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Healthcare Triangle, Inc.: Filed Certificate of Designations for Series B Convertible Preferred Stock, establishing preferences, limitations, and relative rights of the new series (effective 2024-10-22).

Change: charter amendment
Effective: 2024-10-22

Exact text from the filing

On October 22, 2024, in relation to the Asset Transfer Agreement, the Company filed a Certificate of Designations of Preferences, Rights and Limitations of Series B Convertible Preferred Stock (the “ Series B Certificate of Designations ”) with the Secretary of State of the State of Delaware to establish the preferences, limitations and relative rights of the Series B Convertible Preferred Stock (the “ Series B Convertible Preferred Stock ”).

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Healthcare Triangle, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-090797

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