Carecloud proposes amendment to the terms of its series a preferred stock

Somerset, n.j., july 09, 2024 (globe newswire) -- carecloud, inc. (the “company”) (nasdaq: ccld ccldo, ccldp), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that it has begun soliciting proxies from the holders (the “series a preferred shareholders”) of its 11% series a cumulative redeemable perpetual preferred stock (the “series a preferred stock”) to approve an amendment to the company's certificate of designations, preferences and rights of 11% series a cumulative redeemable perpetual preferred stock (the “preferred stock proposal”). under the preferred stock proposal, holders of series a preferred stock would receive similar change of control protections to those afforded to holders of the company's 8.75% series b cumulative redeemable perpetual preferred stock (the “series b preferred stock”). the future dividends of the series a preferred stock would mirror that of the series b preferred stock, and the company would, going forward, have the right to exchange the shares of series a preferred stock for shares of common stock at the liquidation preference value of $25 per share, plus any accrued and unpaid dividends.
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