Public Market

IPO

SecureKloud's arm gets Nasdaq nod for listing

BusinessLine  

Healthcare Triangle, Inc, a step-down subsidiary of Chennai-based SecureKloud Technologies Ltd (earlier 8K Miles Ld) announced the pricing of its initial public offering at Nasdaq of 32,62,500 shares of common stock at a public offering price of $4 per share, for aggregate gross proceeds of approximately $13 million. The company has granted the underwriters a 45-day over-allotment option to purchase up to an additional 4,89,375 shares of common stock at the public offering price, less underwriting discounts and commissions. Healthcare Triangle, launched in 2019 with headquarters in Pleasanton, California, provides solutions in the areas of cloud services, data science, and professional and managed services for the healthcare and Life Sciences industry. Through this IPO, HCTI is raising up to a total $15 million including an over-allotment of $2 million. The IPO proceeds will be utilised for potential acquisitions, working capital, research and development, and general corporate investments. SecureKloud is a Global IT Business Transformation, Secure Cloud Solutions and Managed Services Provider company based in the US and a publicly traded company listed on NSE and BSE.