CareCloud Secures 99% Vote Approval

TL;DR

CareCloud got 99% of votes, looks like shareholders are happy.

AI Summary

CareCloud, Inc. filed a Definitive Additional Materials proxy statement on September 10, 2024. The filing indicates that 99% of required votes were obtained for CareCloud. The company was formerly known as MTBC, Inc. and Medical Transcription Billing, Corp.

Why It Matters

This high percentage of vote approval suggests strong shareholder confidence and smooth passage for any proposals presented at the meeting, potentially impacting future company decisions and strategies.

Risk Assessment

Risk Level: low — The filing is a routine proxy statement indicating strong shareholder approval, which generally poses low immediate risk.

Key Numbers

• 99% — Required Votes Obtained (Indicates strong shareholder support for CareCloud's proposals.)

Key Players & Entities

• CareCloud, Inc. (company) — Registrant
• MTBC, Inc. (company) — Former company name
• Medical Transcription Billing, Corp (company) — Former company name
• 20240910 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• formdefa14a.htm (DEFA14A) — 29KB
• defa14a_001.jpg (GRAPHIC) — 18KB
• 0001493152-24-035636.txt ( ) — 56KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION 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. 99% of Required Votes Obtained for CareCloud’s Series A Preferred Stock Proposal, Proxy Vote Solicitation Continues SOMERSET, N.J., September 10, 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 while proxy vote solicitation continues, it has already obtained approximately 99% of the minimum required “FOR” votes by proxy in support of the amendment to the Company’s Certificate of Designations, Preferences and Rights of its Series A Preferred Stock (the “Preferred Stock Proposal”). As of today, the Company has supportive proxy indications from more than 2.97 million shares and believes that it is quickly approaching the required 3.02 million share threshold. Additional investors who wish to submit their voting instructions can do so now by calling 844-874-6164, by visiting www.aalvote.com/ccld , or by mailing back their 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. While the Special Meeting is presently scheduled for September 11, 2024, the Company may adjourn the meeting if it needs additional time to continue vote solicitation activities. 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 $25/share, plus accrued and unpaid dividends. The Company, while optimistic, cannot predict future proxy or voting results, which could be more or less favorable than the trends seen to date. Those who have already returned proxy vote indications have the ability to change their instructions. Any shares that are not voted will be deemed “no” votes for 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 , X 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 portions of the Proxy Statement and it is important that Series A Preferred Stock shareholders review the entirety of the filing. SERIES A PREFERRED STOCK SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER AMENDMENTS OR SUPPLEMENTS FILED WITH THE SEC CAREFULLY AND

View Full Filing

View this DEFA14A filing on SEC EDGAR