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CareCloud ( (CCLD) ) has shared an update.
CareCloud, Inc. has amended its Series A Preferred Stock by reducing the dividend rate from 11% to 8.75% per annum and adjusting the dividend amount accordingly. Shareholders now hold “8.75% Series A Cumulative Redeemable Perpetual Preferred Stock” and the total shares have been defined as 4,526,231. The amendment also introduces new exchange rights for shareholders in the event of a Change of Control, providing an option to convert Preferred Stock into Common Stock based on a defined formula, and details a mandatory exchange process where Preferred Stock can be converted into Common Stock at the company’s discretion, with certain conditions and exceptions for major shareholders.
See more insights into CCLD stock on TipRanks’ Stock Analysis page.