CareCloud Files Proxy Materials for Series A Vote

TL;DR

CareCloud's proxy statement is out for the Series A vote. No fee paid.

AI Summary

CareCloud, Inc. filed a Definitive Additional Materials proxy statement on July 30, 2024, regarding a vote on its Series A Proxy. The filing indicates no fee was required for this submission.

Why It Matters

This filing is important for shareholders as it details the proposals and information necessary for them to cast their votes on matters affecting the company's Series A shares.

Risk Assessment

Risk Level: low — This is a routine proxy filing providing information to shareholders for an upcoming vote, with no immediate financial or operational risks indicated.

Key Players & Entities

• CareCloud, Inc. (company) — Registrant
• MTBC, Inc. (company) — Former company name
• MEDICAL TRANSCRIPTION BILLING, CORP (company) — Former company name

FAQ

Key Financial Figures

• $25 — the liquidation preference value of the $25/share, plus accrued and unpaid dividend

Filing Documents

• formdefa14a.htm (DEFA14A) — 31KB
• 0001493152-24-029611.txt ( ) — 32KB

From the Filing

WASHINGTON, D.C. 20549 SCHEDULE 14A Proxy Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under § 240.14a-12 CareCloud, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Voting on CareCloud’s Series A Proxy Continues with 82% of Early Proxies Favoring the Proposal SOMERSET, N.J., July 30, 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 the continuation of proxy solicitation 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 its’ Series A Preferred Stock (the “Preferred Stock Proposal”). With approximately 20% of the shares of Series A Preferred Stock having already returned their proxies, 82% of these shares (up from 72% last week) are in favor of the changes recommended in the Preferred Stock Proposal. “There are only three weeks remaining for Series A Preferred Shareholders to return their proxies on this important vote,” said Stephen Snyder, President of CareCloud. “To become effective, the proposal must be approved by at least two-thirds of the shares of all outstanding Series A Preferred Stock – or about 3 million of the outstanding 4.5 million shares. Those wishing to submit their voting instructions can do so now through August 21, 2024, by calling 844-874-6164, by visiting www.aalvote.com/ccld , or by mailing back the completed proxy card received from CareCloud. Anyone who would rather attend the Special Meeting in person can do so by following the instructions contained in the Definitive Proxy materials.” If the Preferred Stock Proposal is ultimately approved, holders of Series A Preferred Stock would receive similar change of control protections to those afforded to holders of the Company’s Series B 8.75% Cumulative Redeemable Perpetual Preferred Stock (the “Series B Preferred Stock”). Also, the dividend of 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 common stock at the liquidation preference value of the $25/share, plus accrued and unpaid dividends. Proxy solicitation is ongoing and the Company cannot predict future proxy or voting results, which could be more or less favorable than the trends seen to date. Any shares that are not voted will be deemed “no” votes, making it more difficult for the Company to achieve the minimum two-thirds vote in favor of the Preferred Stock Proposal. The information contained in this press release is a summary of certain relevant portions of the Definitive Proxy Statement and other materials filed with the SEC. It is important that Series A Preferred Shareholders review the entirety of the filings, which are available on the SEC’s website and on https://ir.carecloud.com/series-a-special-proxy . About CareCloud CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com . Follow CareCloud on LinkedIn , Twitter and Facebook . Important Additional Information and Where To Find It. CareCloud filed with the SEC a definitive proxy statement on Schedule 14A on July 8, 2024, with respect to its future solicitation of proxies for the Special Meeting of Series A Preferred Stock shareholders (including any and all adjournments, postponements, continuations, and reschedulings thereof, the “Special Meeting”). The information contained in this press release is merely a summary of certain relevant

View Full Filing

View this DEFA14A filing on SEC EDGAR