CareCloud announces 82% of early proxies favor proposal

CareCloud announced the continuation of proxy solicitation from the holders of its 11% Series A Cumulative Redeemable Perpetual Preferred Stock to approve an amendment to the Company’s Certificate of Designations, Preferences and Rights of its’ Series A Preferred Stock. With approximately 20% of the shares of Series A Preferred Stock having already returned their proxies, 82% of these shares are in favor of the changes recommended in the Preferred Stock Proposal. 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. 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.