Healthcare Triangle, Inc. (Nasdaq: HCTI), a leader in digital transformation solutions for healthcare and life sciences, has taken a significant step to ensure its compliance with Nasdaq Capital Market requirements by announcing a 1-for-249 reverse stock split of its common stock. This move, effective from August 1, 2025, is designed to increase the company's share price to meet the Nasdaq's $1.00 minimum bid price requirement, thereby securing its continued listing under the symbol 'HCTI'.
The reverse stock split, approved by stockholders on February 26, 2025, will consolidate every 249 shares of the company's outstanding common stock into a single share. This consolidation is projected to decrease the number of outstanding shares from around 1,452,124,283 to approximately 5,831,850. Importantly, this adjustment will not affect the par value or the total number of authorized shares. In cases where fractional shares would result from the split, stockholders will receive a rounded-up share at the participant level, ensuring fairness and simplicity in the transition.
Stockholders recorded as of August 1, 2025, will receive notifications regarding their adjusted share holdings from VStock Transfer, LLC, the company's transfer agent. For those seeking more detailed information about the reverse stock split, Healthcare Triangle, Inc. has made available its definitive information statement on Schedule 14C, which was filed with the U.S. Securities and Exchange Commission on March 17, 2025. This document can be accessed at https://sec.gov, providing a comprehensive overview of the strategic financial maneuver.
