Current Report Filing (8-k)
June 10 2022 - 11:20AM
Edgar (US Regulatory)
0001839285
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0001839285
2022-06-03
2022-06-03
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported) June 3, 2022
HEALTHCARE
TRIANGLE, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
001-40903 |
84-3559776 |
(State
or other jurisdiction of incorporation) |
(Commission
File Number) |
(IRS
Employer Identification No.) |
4309
Hacienda Dr., Suite 150
Pleasanton, CA 94588
(Address
of principal executive offices)
(925)-270-4812
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ | | Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | | Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
|
|
|
|
Name
of each exchange |
Title
of each class |
Trading
Symbol(s) |
on
which registered |
Common
Stock, par value $0.00001 per share |
|
HCTI |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
June 3, 2022, Nasdaq Stock Market LLC (“Nasdaq”) notified Healthcare Triangle, Inc. (the “Company”) that for
the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share
requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”).
In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until November 30, 2022,
to regain compliance with the Bid Price Rule. If at any time before November 30, 2022, the bid price of the Company's common stock closes
at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with a written confirmation
of compliance with the Bid Price Rule.
If
the Company does not regain compliance with the Bid Price Rule by November 30, 2022, the Company may be eligible for an additional 180-day
compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held
shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Bid Price Rule, and would need
to provide written notice of its intention to cure the bid price deficiency during the second compliance period, by effecting a reverse
stock split, if necessary.
If
the Company does not regain compliance with the Bid Price Rule when required, Nasdaq will provide written notification to the Company
that its common stock is subject to delisting. At that time, the Company may appeal the delisting determination to a Nasdaq hearings
panel.
The
notice from Nasdaq has no immediate effect on the listing of the Company’s common stock and its common stock will continue to be
listed on the Nasdaq Capital Market under the symbol “HCTI”. The Company is currently evaluating its options for regaining
compliance. There can be no assurance that the Company will regain compliance with the Bid Price Rule or maintain compliance with any
of the other Nasdaq continued listing requirements.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
Healthcare
Triangle, Inc. |
|
|
Date:
June 10, 2022 |
By:
/s/ Suresh Venkatachari |
|
Name:
Suresh Venkatachari |
|
Title:
Chief Executive Officer |
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