CareCloud obtained 99% of the minimum required ‘FOR’ votes

CareCloud 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. 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 $25/share, plus accrued and unpaid dividends.