CareCloud Approaches Vote Threshold for Preferred Stock Changes
CareCloud Sees Strong Support for Preferred Stock Proposal
SOMERSET, N.J. — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a frontrunner in healthcare technology, has announced significant progress in its proxy vote solicitation for the amendment of its Series A Preferred Stock. The company has garnered approximately 99% of the votes needed to support this pivotal proposal.
Voting Process and Participation
Currently, the Company has received supportive indications from over 2.97 million shares, making it evident that they are approaching the necessary threshold of 3.02 million shares. Investors interested in participating can conveniently submit their voting instructions via phone, website, or by returning their proxy card. Alternatively, they can attend the Special Meeting in person as per the detailed instructions provided in their Definitive Proxy materials.
Potential Outcomes of the Proposal
Should the Preferred Stock Proposal receive approval, holders of the Series A Preferred Stock will gain protections akin to those existing for holders of Series B 8.75% Cumulative Redeemable Perpetual Preferred Stock. Plus, the dividends for Series A Stock will align with those of Series B, granting the company future flexibility to exchange Series A shares for common stock based on a predetermined liquidation preference value. This signifies a proactive approach from CareCloud to ensure stability and investor confidence.
Importance of Voting Trends
While the sentiment appears positive, CareCloud recognizes the inherent unpredictability of future proxy or voting outcomes. Shareholders who have already voted retain the ability to modify their decisions if they wish. Crucially, any shares not cast will be counted as “no” votes, which could significantly impact the overall results. Thus, active engagement from shareholders is vital.
Understanding the Role of Proxy Statements
This announcement serves as a snapshot of the essential details surrounding CareCloud’s ongoing proxy solicitation. The Definitive Proxy Statement filed with regulatory bodies contains critical information that all Series A Preferred Shareholders should thoroughly review. Access to the complete filings is available on the appropriate regulatory websites, ensuring transparency and informed decision-making for investors.
About CareCloud
CareCloud is dedicated to fostering innovation in healthcare management. Their comprehensive suite of technology-enabled solutions is tailored to enhance both the operational and financial performance of healthcare providers. With a commitment to easing administrative challenges and emphasizing patient care, over 40,000 providers trust CareCloud’s offerings, which encompass various aspects of practice management as well as revenue cycle management. Explore their extensive array of services, including practice management, electronic health records, patient experience solutions, and more on their official website.
Frequently Asked Questions
What is the current voting status for CareCloud’s proposal?
CareCloud has currently secured approximately 99% of the required votes and is nearing the necessary threshold of 3.02 million shares.
What happens if the proposal is approved?
If approved, the holders of Series A Preferred Stock will enjoy similar protections as those who hold Series B Preferred Stock and will be able to receive dividends aligned with Series B stock.
How can shareholders participate in the voting process?
Shareholders can participate by calling the provided number, visiting the designated website, or returning their completed proxy cards to CareCloud.
Can shareholders change their votes after submission?
Yes, shareholders have the ability to change their voting instructions after submitting their initial votes.
What is the long-term vision for CareCloud?
CareCloud aims to innovate continually within the healthcare sector, enhancing service delivery and operational efficiency for health practices while improving overall patient experiences.
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