Healthcare Triangle faces immediate Nasdaq delisting risk after reverse split history

Healthcare Triangle, Inc. (HCTI) received a Staff Delisting Determination from The Nasdaq Stock Market LLC on October 1, 2026, placing its common stock at risk of immediate suspension. The exchange notified the company that it failed to meet the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2) for The Nasdaq Capital Market.

Normally, a company failing this standard is granted a 180-calendar-day period to regain compliance. However, Healthcare Triangle is ineligible for this grace period because it executed reverse stock splits with a cumulative ratio of 250 shares or more to one over the prior two-year period. The company effected a 1-for-249 reverse split on August 1, 2025, and a 1-for-60 reverse split on February 10, 2026, resulting in a cumulative ratio of 1-for-14,940. Under Nasdaq Listing Rule 5810(c)(3)(A)(iv), this history precludes any compliance period and triggers a direct delisting determination.

Unless the company requests an appeal by October 8, 2026, trading of HCTI securities will be suspended at the opening of business on October 12, 2026. The exchange will then file a Form 25-NSE with the Securities and Exchange Commission to remove the securities from listing and registration on Nasdaq. The company has stated its intent to timely request a hearing before a Nasdaq Hearings Panel pursuant to the Nasdaq Listing Rule 5800 Series. This request would stay the suspension and the filing of the Form 25-NSE pending the panel's decision.

In connection with the hearing, Healthcare Triangle intends to present a plan to regain compliance with the Bid Price Rule, which may include effecting another reverse stock split if necessary. The filing notes that there can be no assurance the panel will grant continued listing or that the company will regain compliance within any additional time granted. The notice has no immediate effect on current trading; HCTI shares will continue to trade under their existing symbol until any suspension takes effect.