Healthcare Triangle, Inc. announced that it has entered into a securities purchase agreement with an institutional investor for the sale of $5,200,000 for gross proceeds of up to $4,420,000 due to the original issue discount in aggregate principal amount of its senior secured 15% original issue discount convertible promissory notes, due June 28, 2025, along with warrants to purchase shares of common stock on December 28, 2023.

On the same date, the company issued $2,000,000 principal amount of senior secured 15% original issue discount convertible promissory notes, due June 28, 2025 for gross proceeds $1,700,000 and Warrants to purchase up to an aggregate of 357,500 Warrant Shares under the first tranche The Note and Warrants issued in the first tranche of funding have an initial fixed conversion and exercise price of $3.44688 per share, respectively, subject to adjustment. The Warrants carry a 5-year term and, if not exercised, will terminate on December 28, 2028. In connection with the Offering, the Company relied upon the exemption from registration provided under Section 4(a)(2) and Rule 506(b) under the Securities Act of 1933, as amended.