CareCloud announces conversion of Series A Preferred stock

CareCloud (CCLD)effected the mandatory conversion of shares of its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, into the Company’s Common Stock, $0.001 par value per share. The Company’s Board of Directors elected to exercise its conversion rights, which provide for the conversion of each share of Preferred Stock into 7.3358 shares of Common Stock, inclusive of all accumulated and unpaid dividends. Any fractional shares of Common Stock which would otherwise be issuable will be rounded up to the next whole share of Common Stock. Dividends on converted shares will cease to accrue on the Mandatory Exchange Date. The Conversion will be effective at 4:01 p.m. Eastern Time on March 6, 2025.