secwatch.observer — SEC 8-K summary
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Issuer:     CareCloud, Inc. (CCLD)
CIK:        0001582982
Form:       8-K
Filed at:   2023-09-01T23:59:59+00:00
Accession:  0001493152-23-031485
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CareCloud amends $25M credit line with SVB via Eighth Loan Modification Agreement
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- CareCloud and subsidiaries entered an Eighth Loan Modification with Silicon Valley Bank (First-Citizens) on August 31, 2023.
- The $25 million line of credit currently has $10 million drawn; modifications include a temporary higher interest rate floor of 7.0% through March 31, 2024.
- Liquidity ratio covenant reduced to 1.25 to 1.0 through March 31, 2024, then returns to 1.50 to 1.0.
- Borrower paid a $20,000 modification fee and reaffirmed all security interests and existing loan documents.
- The credit line matures October 13, 2025; proceeds used for growth and working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582982/000149315223031485/0001493152-23-031485-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582982/000149315223031485/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-031485

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