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SOMERSET, N.J., March 11, 2025 (GLOBE NEWSWIRE) -- 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, announced today that it will formally notify The Nasdaq Stock Market LLC of its intent to voluntarily delist its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (Nasdaq: CCLDP) (“Series A Preferred Stock”) from the Nasdaq Global Market. The Company expects to file a Form 25 with the Securities and Exchange Commission relating to the voluntary delisting of its Series A Preferred Stock on or about March 21, 2025, since the security no longer complies with Nasdaq’s continued listing requirements following the recent mandatory conversion of each share of Series A Preferred Stock not held by a “material shareholder” (a Series A Preferred Stock shareholder who, as of the conversion effective date, owned at least 100,000 shares of Series A Preferred Stock) into 7.3358 shares of the Company’s common stock. The Company expects the delisting of the Series A Preferred Stock to be effective on or about March 31, 2025.
About CareCloud
CareCloud 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 help them 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.
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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
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