Healthcare Triangle Announces 1-for-249 Reverse Stock Split to Comply with Nasdaq Requirements

Healthcare Triangle, Inc. will undergo a 1-for-249 reverse stock split to comply with Nasdaq's minimum bid price requirement. The reverse split will become effective on August 1, 2025, and the company's common stock will trade on the Nasdaq Capital Market under the symbol "HCTI." The reverse split aims to increase the price per share and reduce the number of outstanding shares from 1.45 billion to approximately 5.83 million.

Healthcare Triangle, Inc. (HCTI), a healthcare IT solutions provider, has announced a 1-for-249 reverse stock split to comply with Nasdaq's minimum bid price requirement. The reverse split, which will become effective on August 1, 2025, aims to increase the price per share and reduce the number of outstanding shares from approximately 1.45 billion to approximately 5.83 million [2].

The reverse stock split will convert 249 shares of the company's issued and outstanding common stock into one share, without changing the par value or the total number of authorized shares. The company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "HCTI," with a new CUSIP number assigned as a result of the split [2].

This move is part of Healthcare Triangle's strategy to regain compliance with the Nasdaq Capital Market's $1.00 minimum bid price requirement. The reverse stock split was approved by the company's stockholders in a special meeting held on February 26, 2025 [2].

Healthcare Triangle, based in Pleasanton, California, provides healthcare IT solutions, including cloud services, data science, and managed services for electronic health records and life sciences firms. The company has faced challenges maintaining compliance with Nasdaq listing standards but has recently received a reprieve from the Nasdaq Hearings Panel [1].

The company's latest financial report showed a 10% year-over-year decline in Q1 revenue, reaching $3.7 million. The net loss narrowed to $1.7 million from $1.9 million the year prior. No Wall Street analysts currently cover the stock, making it highly susceptible to volatility [1].

For updates and more information, investors can refer to the company's definitive information statement on Schedule 14C, filed with the U.S. Securities and Exchange Commission (SEC) on March 17, 2025 [2].

References:
[1] https://stocktwits.com/news-articles/markets/equity/meme-stock-fever-hits-healthcare-triangle-stock/choGVbvR5vR
[2] https://www.marketscreener.com/news/healthcare-triangle-inc-announces-1-for-249-reverse-stock-split-as-part-of-nasdaq-compliance-plan-ce7c5fdedc81f727