secwatch.observer — SEC 8-K summary
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Issuer:     CareCloud, Inc. (CCLD)
CIK:        0001582982
Form:       8-K
Filed at:   2025-09-09T23:59:59+00:00
Accession:  0001493152-25-012845
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582982/000149315225012845/0001493152-25-012845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582982/000149315225012845/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-012845

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