CareCloud Announces Suspension of its Dividends on Non-Convertible Series A and Series B Cumulative Redeemable Perpetual Preferred Stock
11 Dezember 2023 - 11:17PM
CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDP, CCLDO),
a leader in healthcare technology solutions for medical practices
and health systems nationwide, today announced that its Board of
Directors has suspended its monthly cash dividends for its 11%
Series A Cumulative Redeemable Perpetual Preferred Stock ("Series A
Preferred Stock") and its 8.75% Series B Cumulative Redeemable
Perpetual Preferred Stock ("Series B Preferred Stock") beginning
with the payment scheduled for December 15, 2023. The suspension of
these dividends will defer approximately $1.3 million in cash
dividend payments each month. During this suspension, dividends
will continue to accrue on the Series A and Series B Preferred
Stock. The Board of Directors will regularly review and consider
when the suspension should be lifted.
CareCloud's Series A Preferred Stock trades on
the Nasdaq Global Market under the ticker symbol "CCLDP."
CareCloud's Series B Preferred Stock trades on the Nasdaq Global
Market under the ticker symbol "CCLDO."
About CareCloud
CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) 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 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.
For additional information, please visit our
website at www.carecloud.com. To listen to video presentations by
CareCloud’s management team, read recent press releases and view
our latest investor presentation, please visit
ir.carecloud.com.
Follow CareCloud on LinkedIn, Twitter and Facebook.
Disclaimer
This press release is for information purposes
only, and does not constitute an offer to sell or solicitation of
an offer to buy, nor shall there be any sale of these securities in
any state or other jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
Forward Looking Statements
This press release contains various
forward-looking statements within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements relate to anticipated future events, future
results of operations or future financial performance. In some
cases, you can identify forward-looking statements by terminology
such as “may,” “might,” “will,” “shall,” “should,” “could,”
“intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,”
“believes,” “seeks,” “estimates,” “forecasts,” “predicts,”
“possible,” “potential,” “target,” or “continue or the negative of
these terms or other comparable terminology.
Our operations involve risks and uncertainties,
many of which are outside our control, and any one of which, or a
combination of which, could materially affect our results of
operations and whether the forward-looking statements ultimately
prove to be correct. Forward-looking statements in this press
release include, without limitation, statements reflecting
management's expectations for future financial performance and
operating expenditures, expected growth, profitability and business
outlook, and the expected results from the integration of our
acquisitions.
These forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are only predictions, are uncertain and involve substantial
known and unknown risks, uncertainties and other factors which may
cause our (or our industry’s) actual results, levels of activity or
performance to be materially different from any future results,
levels of activity or performance expressed or implied by these
forward-looking statements. New risks and uncertainties emerge from
time to time, and it is not possible for us to predict all of the
risks and uncertainties that could have an impact on the
forward-looking statements, including without limitation, risks and
uncertainties relating to the Company’s ability to manage growth,
migrate newly acquired customers and retain new and existing
customers, maintain cost-effective global operations, increase
operational efficiency and reduce operating costs, predict and
properly adjust to changes in reimbursement and other industry
regulations and trends, retain the services of key personnel,
develop new technologies, upgrade and adapt legacy and acquired
technologies to work with evolving industry standards, compete with
other companies’ products and services competitive with ours, and
other important risks and uncertainties referenced and discussed
under the heading titled “Risk Factors” in the Company’s filings
with the Securities and Exchange Commission. In addition, there is
uncertainty about the spread of the Covid-19 virus and the impact
it may have on the Company’s operations, the demand for the
Company’s services, and economic activity in general.
The statements in this press release are made as
of the date of this press release, even if subsequently made
available by the Company on its website or otherwise. The Company
does not assume any obligations to update the forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made.
SOURCE CareCloud
Company Contact:Larry SteenvoordenChief
Financial OfficerCareCloudIR@carecloud.com
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