other material
confidence high
sentiment positive
materiality 0.75
CareCloud reduces Series A preferred dividend from 11% to 8.75%, adds mandatory exchange right
CareCloud, Inc.
- Dividend rate reduced from 11% to 8.75% per annum; annual dividend per share from $2.75 to $2.1875.
- Company adds optional mandatory exchange of Series A preferred for common at formula using 20-day VWAP.
- Holders of >=100,000 shares (Material Shareholders) may opt out of mandatory exchange by written notice within 7 days.
- Upon change of control without company redemption, holders may exchange shares for common based on common stock price.