The offering involves 15% original issue discount notes with an aggregate principal amount of $4.235 million. According to the company, these notes carry a six-month lock-up period, after which holders gain the right to convert the debt into common stock. The conversion price is pegged to 85% of the volume-weighted average price of Healthcare Triangle shares over the three trading days preceding a conversion notice.

WallachBeth Capital LLC served as the placement agent for the transaction. Beyond debt repayment and future acquisitions, the company intends to allocate a portion of the funds toward general working capital. Further specifics regarding the terms and financial impact of this placement are expected to be detailed in an upcoming Form 8-K filing with the Securities and Exchange Commission.