Healthcare Triangle Maintains Compliance with Nasdaq Listing Requirements as Nasdaq Resolves Delisting Determination Error
June 13 2023 - 8:00AM
Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the
"Company"), a leader in digital transformation solutions including
managed services, cloud enablement, and data analytics for the
healthcare and life sciences industry, today announced that the
Nasdaq Stock Market (“Nasdaq”) Delisting Notice determination
regarding the minimum closing bid price requirement for continued
listing on The Nasdaq Capital Market was executed in error. In
turn, Nasdaq has cancelled the Company’s request to Nasdaq for a
hearing to appeal its delisting determination, and the Company is
no longer required to complete a compliance plan for continued
listing.
Nasdaq has determined Healthcare Triangle was in compliance with
the minimum closing bid price requirement for continued listing on
The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) by
May 30, 2023, the deadline to regain compliance. On May 26, 2023,
the Company effected a one-for-ten reverse stock split, and as a
result, the closing price of the Company’s common stock has since
remained greater than $2.60.
“Healthcare Triangle works diligently to conduct company
business in full compliance with Nasdaq listing requirements and
with adherence to corporate governance best practices. We
appreciate Nasdaq’s fast execution in resolving its error and
continuing our listing under the ticker symbol ‘HCTI.’”
About Healthcare Triangle
Healthcare Triangle, Inc. based in Pleasanton, California,
reinforces healthcare progress through breakthrough technology and
extensive industry knowledge and expertise. We support healthcare
including hospitals and health systems, payers, and pharma/life
sciences organizations in their effort to improve health outcomes
through better utilization of the data and information technologies
that they rely on. Healthcare Triangle achieves HITRUST
Certification for Cloud and Data Platform (CaDP), marketed as
CloudEz™ and DataEz™. HITRUST Risk-based, 2-year (r2) Certified
status demonstrates to our clients the highest standards for data
protection and information security. Healthcare Triangle enables
the adoption of new technologies, data enlightenment, business
agility, and response to immediate business needs and competitive
threats. The highly regulated healthcare and life sciences
industries rely on Healthcare Triangle for expertise in digital
transformation encompassing the cloud, security and compliance,
data lifecycle management, healthcare interoperability, and
clinical and business performance optimization. For more
information, visit www.healthcaretriangle.com.
Forward-Looking Statements and Safe Harbor
Notice
All statements other than statements of historical facts
included in this press release are "forward-looking statements" (as
defined in the Private Securities Litigation Reform Act of 1995).
Such forward-looking statements include our expectations and those
statements that use forward-looking words such as "projected,"
"expect," "possibility" and "anticipate." The achievement or
success of the matters covered by such forward-looking statements
involve significant risks, uncertainties and assumptions. Actual
results could differ materially from current projections or implied
results. Investors should read the risk factors set forth in the
Company's Prospectus filed with the SEC on October 7, 2021,
previous filings, subsequent filings and future periodic reports
filed with the SEC. All the Company's forward-looking statements
are expressly qualified by all such risk factors and other
cautionary statements.
The Company cautions that statements and assumptions made in
this news release constitute forward-looking statements and make no
guarantee of future performance. Forward-looking statements are
based on estimates and opinions of management at the time
statements are made. The information set forth herein speaks only
as of the date hereof. The Company and its management undertake no
obligation to revise these statements following the date of this
news release.
Investor Contact
1-800-617-9550 ir@healthcaretriangle.com
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