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CareCloud, Inc. 8.75% Series B Cumul Redeem Perp Preferred Stock
Ticker Symbol: CCLDO CUSIP: 14167R308 Exchange: NCM
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QUANTUMONLINE.COM SECURITY DESCRIPTION: CareCloud, Inc. 8.75% Series BV Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25.00 per share, redeemable at the issuer's option on or after 02/15/2024 but before 02/15/2025 at $25.75 (103%) per share plus accrued and unpaid dividends; on or after 02/15/2025 but before 02/15/2026 at $25.50 (102%) per share plus accrued and unpaid dividends; on or after 02/15/2026 but before 02/15/2027 at $25.25 (101%) per share plus accrued and unpaid dividends; and on or after 02/15/2027 at $25.00 (100%) per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.75% per annum ($2.1875 per annum or $0.182291667 per month) will be paid monthly on the 15th day of each month to holders of record on the record date that will be the last day of the calendar month (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends (see prospectus for further information). Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-24 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (CCLD)
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Notes: January 21, 2025 -- CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare information technology and generative AI solutions for medical practices and health systems nationwide, today announced that its Board of Directors (the “Board”) has decided to resume dividend payments on its Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Stock”) and Series B Cumulative Redeemable Perpetual Preferred Stock (the “Series B Preferred Stock”) earlier than previously announced based on the Company’s success at accelerating free cash flow. Dec. 11, 2023 -- 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.M
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IPO - 1/27/2022 - 1.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MTBCO Changed: 1/10/2023
Market Value $ Million
Click for current CCLDO price quote from the NASDAQ
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 7 Clyde Road, Somerset, NJ 08873 |
| Main Phone Number |
732-873-5133 |
| Fax Number |
732-873-3378 |
| Investor Contact (CEO)
Stephen Snyder
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732-873-5133
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| Toll Free Phone Number |
866-266-6822 |
| CEO - A. Hadi Chaudhry |
CEO - Stephen Snyder |
CFO - Norman Roth |
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