Healthcare Triangle Inc.

10/25/2024 | Press release | Distributed by Public on 10/25/2024 14:18

Amendments to Bylaws Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

Asset Transfer Agreement

On October 21, 2024, the Healthcare Triangle, Inc. (the "Company") acquired substantially all of the business, assets, and operations relating to cloud and technology domain (the "Acquired Assets") of SecureKloud Technologies, Inc., ("Parent"), a Nevada corporation. The Acquired Assets include all of Parent's cloud and technology domain and substantial business interests in the field, that currently form part of the Parent's Business. The Acquired Assets were acquired by the Company under an Asset Transfer Agreement, dated October 21, 2024, between the Company, and the Parent (the "Asset Transfer Agreement").

The consideration for the Acquired Assets consisted of the issuance of 1,600,000 shares of newly designated Series B Convertible Preferred Stock ("Series B Preferred Stock") of the Company, which is/are convertible each into 10 common shares of the Company, at the holder's option (subject to shareholder's approval), for a total consideration of at $4.50 per share of Series B Preferred Stock valuing the transferred assets at USD 7.20 million. The consideration

The Asset Transfer Agreement also contained customary representations, warranties, indemnities, and covenants. The closing of the said transaction occurred at the Parent's place of business on October 22, 2024.

The description in this report of the Asset Transfer Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement attached hereto as Exhibit 10.1, respectively, which are incorporated by reference herein.