Healthcare Triangle, Inc. (HCTI) received a delisting determination letter from Nasdaq on October 1, 2026, for failing to maintain a minimum bid price of $1.00 per share. The company is not eligible for the standard 180-day compliance period due to the magnitude of its reverse stock splits over the prior two years. HCTI plans to appeal the decision.
Key Details
- Reason for Notice: The company's stock failed to meet the minimum $1.00 bid price requirement under Nasdaq Listing Rule 5550(a)(2).
- Immediate Delisting Risk: HCTI is ineligible for a compliance period because it effected cumulative reverse stock splits of 1-for-14,940 in the last two years, exceeding Nasdaq's 1-for-250 threshold.
- Next Steps: The company intends to request a hearing with a Nasdaq Hearings Panel by the October 8, 2026 deadline. This action will stay the suspension, which would otherwise occur on October 12, 2026, pending the panel's decision.