CareCloud ( (CCLD) ) has shared an update.
CareCloud, Inc. has amended its Series A Preferred Stock by reducing the dividend rate from 11% to 8.75% per annum and adjusting the dividend amount accordingly. Shareholders now hold “8.75% Series A Cumulative Redeemable Perpetual Preferred Stock” and the total shares have been defined as 4,526,231. The amendment also introduces new exchange rights for shareholders in the event of a Change of Control, providing an option to convert Preferred Stock into Common Stock based on a defined formula, and details a mandatory exchange process where Preferred Stock can be converted into Common Stock at the company’s discretion, with certain conditions and exceptions for major shareholders.
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