CareCloud secures $10M credit facility with Provident Bank, replaces Wells Fargo note for Medsphere acquisition

CareCloud, Inc.

New $10M facility from Provident Bank; $8.3M drawn at closing to replace Wells Fargo promissory note for Medsphere acquisition.
Interest rate is SOFR + 3% (currently under 7.5%), significantly lower than the prior note.
Two-year term; facility is secured by substantially all of CareCloud's assets.
Medsphere acquisition total purchase price $16.5M: $8.25M paid from internal cash, balance financed via this facility.
Company intends to fully pay down Medsphere-related obligation by mid-2026 through internally generated cash flow.

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