Healthcare Triangle acquires SecureKloud assets for $7.2M in preferred stock; regains Nasdaq equity compliance

Healthcare Triangle, Inc.

Acquired cloud/tech assets from SecureKloud Technologies in exchange for 1.6M shares of Series B Convertible Preferred Stock, each convertible into 10 common shares subject to stockholder approval.
Stated value of $7.2M based on 30-day VWAP of $0.45 per common share; independent Scalar valuation set asset value at ~$8M; fairness opinion received from KPSN & Associates.
Closing occurred Oct 22, 2024; company believes stockholders' equity now approx. $4.6M, exceeding Nasdaq's $2.5M minimum requirement for continued listing.
Conversion of preferred shares requires stockholder approval at 2024 annual meeting; no change of control until then.

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