Healthcare Triangle, Inc. Announces 1-for-249 Reverse Stock Split to Meet Nasdaq Compliance
Healthcare Triangle, Inc. is implementing a 1-for-249 reverse stock split to increase its share price and comply with Nasdaq's minimum bid price requirement, a strategic move to maintain its market listing.
Healthcare Triangle, Inc. (Nasdaq: HCTI), a prominent provider of digital transformation solutions for the healthcare and life sciences sectors, has announced a 1-for-249 reverse stock split of its common stock. This decision, effective from 12:01 a.m. Eastern Time on August 1, 2025, aims to elevate the company's stock price to meet the Nasdaq Capital Market's $1.00 minimum bid price requirement, ensuring continued listing on the exchange.
The reverse stock split, approved by stockholders on February 26, 2025, will convert every 249 shares of the company's outstanding common stock into one share, significantly reducing the total number of shares from approximately 1,452,124,283 to about 5,831,850. This adjustment does not alter the par value per share or the total number of authorized shares. Fractional shares will not be issued; instead, stockholders will receive a rounded-up share count at the participant level.
Stockholders of record as of August 1, 2025, will be notified about their updated share ownership by the company's transfer agent, VStock Transfer, LLC. Further details regarding the reverse stock split are available in the company's definitive information statement on Schedule 14C, filed with the U.S. Securities and Exchange Commission (SEC) on March 17, 2025, and accessible at the SEC's website.