Healthcare Triangle, Inc. (NASDAQ: HCTI) completed a registered direct offering of 681,553 shares of its common stock at $5.81 per share, raising approximately $3.959 million in gross proceeds. The transaction was executed under a shelf registration statement on Form S‑3 and D. Boral Capital, LLC served as the sole placement agent. The offering is expected to close on or about February 27, 2026.
The financing comes at a time when the company’s financials are under pressure. In the third quarter of 2025, HCTI reported a net loss of $1.9 million on revenue of $3.5 million, and its trailing‑twelve‑month EBITDA was negative $5.91 million. Cash and cash equivalents stood at just $20,000 as of December 31, 2024, underscoring the need for additional working capital to sustain operations and pursue growth initiatives.
Proceeds from the offering will be deployed to accelerate the expansion of the company’s proprietary CloudEz, DataEz, and Readabl.AI platforms, and to support the integration of recent acquisitions. By raising capital through a direct offering, HCTI can avoid the dilution that would accompany a public offering while retaining flexibility to allocate funds to capital expenditures, product development, and potential future acquisitions in the healthcare technology space.
The transaction follows a 1‑for‑60 reverse stock split announced on February 6, 2026, which was part of a Nasdaq compliance plan, and precedes the closing of a $50 million acquisition of Spanish AI firms Teyame 360 SL and Datono Mediación SL, expected to close by January 29, 2026. These corporate actions reflect the company’s broader strategy to consolidate its market position and transition toward a recurring‑revenue business model.
CFO David Ayanoglou emphasized that the capital raise is a key enabler for the company’s shift to recurring revenue, noting that “these wins and platform advancements are accelerating our shift to a recurring revenue model.” The move is intended to strengthen the balance sheet, support ongoing platform development, and provide the liquidity needed to pursue additional strategic opportunities.
The offering comes amid a recent decline in the company’s share price, which closed at $5.69 on February 26, 2026, down 15% over the past week. The financing is therefore positioned to address short‑term liquidity concerns while positioning HCTI for longer‑term growth in the healthcare technology sector.
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