Healthcare Triangle announced that the Nasdaq Stock Market Delisting Notice determination regarding the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market was executed in error. In turn, Nasdaq has cancelled the Company’s request to Nasdaq for a hearing to appeal its delisting determination, and the Company is no longer required to complete a compliance plan for continued listing. Nasdaq has determined Healthcare Triangle was in compliance with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) by May 30, 2023, the deadline to regain compliance. On May 26, 2023, the Company effected a one-for-ten reverse stock split, and as a result, the closing price of the Company’s common stock has since remained greater than $2.60.
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