HeartCore Announces Strategic Financing to Support Software Business Growth Initiatives

Core Insights - HeartCore Enterprises, Inc. has entered into a Securities Purchase Agreement and an Equity Purchase Agreement with Crom Structured Opportunities Fund I, LP to enhance its financial flexibility and support its growth initiatives [1][2][3] Financing Details - Under the Securities Purchase Agreement, HeartCore may issue up to 2,000 shares of Series A Convertible Preferred Stock at $1,000 per share, generating gross proceeds of $2.0 million, with each share having a stated value of $1,100 [2] - The Equity Purchase Agreement allows HeartCore to sell up to $25.0 million of its common stock over time to Crom, with proceeds aimed at supporting M&A strategies and meeting Nasdaq's equity compliance requirements [3] Strategic Focus - The company emphasizes that M&A is central to its strategy, targeting firms with recurring revenue, complementary technologies, and strong AI capabilities to unlock value through cross-sell and upsell opportunities to its customer base of over 1,000 software clients [2]