Healthcare Triangle, Inc. (Nasdaq: HCTI) has achieved a significant milestone by securing the Nasdaq Hearings Panel's approval for the continued listing of its securities. This approval follows the company's successful resolution of a Public Interest Concern raised by Nasdaq's Listing Qualifications Department, showcasing its compliance with the shareholders' equity rule and obtaining a continued listing exception to address prior deficiencies.
The decision by the Panel includes specific conditions that Healthcare Triangle must meet to maintain its listing. These conditions involve executing a reverse stock split by August 8, 2025, to comply with the Bid Price Rule and ensuring a $1 closing bid price for at least twenty consecutive trading days by September 5, 2025. Furthermore, the company will be subject to a Discretionary Panel Monitor for one year following any compliance determination, underscoring the importance of adhering to Nasdaq's requirements.
Dave Rosa, Chairman of the Board of Directors at HCTI, shared his appreciation for the Panel's decision, highlighting the company's dedication to its mission through strategic growth and innovation in healthcare technology. Healthcare Triangle remains focused on increasing shareholder value and is committed to transparent communication with its investors and stakeholders regarding its progress.
