Securekloud Technologies Ltd’s shares were up 1.48 per cent after the company’s step-down subsidiary, Healthcare Triangle Inc., announced the completion of a $2 million private placement debt offering.
The offering, which also includes warrants to purchase 357,500 shares of common stock, was executed through a securities purchase agreement with an institutional investor. The Company received approximately $1.7 million in gross proceeds, resulting in net proceeds of approximately $1.5 million after deducting offering expenses. The transaction allows for potential additional closings, up to an aggregate principal amount of $3.2 million, contingent on specific conditions outlined in the transaction documents.
Thyagarajan Ramachandran, Chief Financial Officer of HCTI, said, “The global healthcare IT market is projected to surpass $970 billion by 2027. We are aware of the many challenges facing healthcare and have a suite of services to fill the need and demand. Our innovative solutions help organisations adopt a cloud-first strategy to improve outcomes, quality, access and cost of healthcare. With this added capital, we can further support key initiatives that are more important during this time.”
The shares were up 1.48 per cent to ₹56.10 at 10.21 am on the BSE.