Health In Tech announces $7M private placement

Health In Tech (HIT) announced that it has entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $7M before deducting placement agent fees and offering expenses. The PIPE is expected to close on or about March 27, subject to the satisfaction of customary closing conditions. Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, Health In Tech will issue an aggregate of 5.6M shares of Class A common stock at a price of $1.25 per share. Craig-Hallum Capital Group acted as the sole placement agent for the PIPE.