HeartCore Announces Strategic Financing to Support Software Business Growth Initiatives

NEW YORK and TOKYO, July 01, 2025 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (NASDAQ:HTCR) ("HeartCore" or the "Company"), a leading enterprise software and data consulting services company based in Tokyo, announced it has entered into a Securities Purchase Agreement and Equity Purchase Agreement with Crom Structured Opportunities Fund I, LP ("Crom").

"This financing provides us with added flexibility to pursue our software growth initiatives," said HeartCore CEO Sumitaka Kanno. "M&A remains central to our strategy as we target companies with recurring revenue, complementary technologies, and strong AI capabilities. By integrating these assets, we believe we can unlock meaningful value through cross-sell and upsell opportunities to our base of more than 1,000 software customers."

Under the Securities Purchase Agreement, HeartCore may issue up to 2,000 shares of Series A Convertible Preferred Stock to Crom at $1,000 per share, for gross proceeds of $2.0 million, with each share having a stated value of $1,100.

Under the Equity Purchase Agreement, HeartCore has the right to sell up to $25.0 million of its common stock, listed on the Nasdaq Capital Market under the ticker "HTCR", to Crom over time.

The Company plans to use the net proceeds ...