SecureKloud's Healthcare Triangle to raise $6.5 million through private placement of equity shares; stock jumps ~1.5%

12 Jul 2022 , 10:46 AM

SecureKloud Technologies’ Healthcare Triangle Inc. announced that it has entered into a definitive agreement with a single institutional investor for the issuance and sale of 6,097,561 shares of common stock (or common stock equivalents in lieu thereof) in a private placement.

The Company will also issue unregistered preferred investment options (the investment options) to the investor to purchase up to 6,097,561 shares of common stock.

The cost of one share of common stock (or its equivalent) and one investment option to buy one share of common stock is $1.066.

The investment options have an exercise price of $1.066 per share, will become exercisable six months after the issuance date and will have a term of five years. The private placement is expected to close on or around July 13, 2022, subject to customary closing conditions being met.

H.C. Wainwright & Co. is the offering’s exclusive placement agent.

Before deducting placement agent fees and other offering expenses, the gross proceeds from the private placement are expected to be around $6.5 million. The net proceeds of the private placement will be used for working capital and other general corporate purposes by the company.

At around 10.50 AM, SecureKloud was trading at Rs75, up by 1.49% against its previous close of Rs73.90 on NSE. So far in the day, it touched a high and low of Rs76.20 and Rs75 respectively.