---
schema_version: "secwatch.filing_event.v1"
accession: "0001607062-23-000352"
form_type: "8-K"
ticker: "HCTI"
cik: "0001839285"
company_name: "Healthcare Triangle, Inc."
filed_at: "2023-06-29T23:59:59+00:00"
generated_at: "2026-06-13T15:04:16.896094+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Healthcare Triangle receives default notice on $2.4M Seacoast debt; interest rate increases to 18%

## Summary
- Default notice from Seacoast Business Funding on June 23, 2023 for violating terms of Purchasing Agreement.
- Interest rate increased from Prime Rate to 18%; outstanding balance of $2,409,437 as of June 28, 2023.
- Default triggered by HCTI entering $1.5M loan with Agile Capital Funding without Seacoast's prior consent.
- No acceleration or foreclosure yet; company seeking resolution but no guarantee of favorable terms.
- Failure to resolve could cause material adverse effect on liquidity, financial condition, and possibly bankruptcy.

## SEC filing metadata
- accession: 0001607062-23-000352
- form_type: 8-K
- ticker: HCTI
- cik: 0001839285
- company_name: Healthcare Triangle, Inc.
- filed_at: 2023-06-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1839285/000160706223000352/0001607062-23-000352-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839285/000160706223000352/hcti062823form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001607062-23-000352
- JSON: https://secwatch.observer/filing/0001607062-23-000352.json
- Plain text: https://secwatch.observer/filing/0001607062-23-000352.txt

## Key facts
- Debt Financings
  Healthcare Triangle, Inc. reported a default on debt of $2,409,437 with Seacoast Business Funding, a division of Seacoast National Bank at 18%.
  - Principal: $2,409,437
  - Counterparty: Seacoast Business Funding, a division of Seacoast National Bank
  - Rate: 18%
  - Event: default
  source text: fee payable by HCTI to Seacoast went from the Prime Rate (as defined in the Purchasing Agreement) to 18%. As of June 28, 2023, the Company has an outstanding payment balance of $2,409,437 under the Purchase Agreement. Section 6(h) of the Purchase Agreement requires the Company to obtain the written consent of Seacoast prior to obtaining any loans or advances. On
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839285/000160706223000352/0001607062-23-000352-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.