The notes carry an original issue discount and allow holders to convert them into common stock starting six months after the issuance date. The conversion price is set at 85% of the volume-weighted average price of the company's common stock over the three trading days preceding a conversion notice. Healthcare Triangle intends to direct the net proceeds toward retiring existing debt, pursuing potential strategic acquisitions, and funding general working capital requirements.

Because these securities were not registered under the Securities Act of 1933, they remain subject to strict transfer limitations within the United States. Further documentation regarding the terms of the notes will be disclosed in the company's upcoming Form 8-K filing with the Securities and Exchange Commission.