SOMERSET, N.J., Nov. 04, 2022 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: MTBC, MTBCO, MTBCP), a frontrunner in healthcare expertise options for medical practices and well being methods nationwide, at present introduced that its Board of Directors has declared month-to-month money dividends for its 11% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) and its 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock (“Series B Preferred Stock”) for December 2022, January and February 2023. This represents 88 consecutive months of dividends declared for the reason that Series A Preferred Stock was initially bought in November 2015.
The following desk exhibits the month-to-month dividends and related document and fee dates:
| Dec. 2022 | Jan. 2023 | Feb. 2023 | ||||||||||
| Series A dividend per share | $ | 0.22917 | $ | 0.22917 | $ | 0.22917 | ||||||
| Series B dividend per share | $ | 0.18229 | $ | 0.18229 | $ | 0.18229 | ||||||
| Ex-dividend date | Dec. 29, 2022 | Jan. 30, 2023 | Feb. 27, 2023 | |||||||||
| Record date | Dec. 31, 2022 | Jan. 31, 2023 | Feb. 28, 2023 | |||||||||
| Payment date | Jan. 17, 2023 | Feb. 15, 2023 | Mar. 15, 2023 | |||||||||
Holders of shares of the Series A Preferred Stock are entitled to obtain cumulative money dividends on the fee of 11% each year of the $25.00 per share liquidation desire (equal to $2.75 each year per share). Holders of shares of the Series B Preferred Stock are entitled to obtain cumulative money dividends on the fee of 8.75% each year of the $25.00 per share liquidation desire (equal to $2.1875 each year per share).
Dividends on the Series A Preferred Stock and Series B Preferred Stock are cumulative and payable month-to-month on the 15th day of every month; supplied that if any dividend fee date just isn’t a business day, then the dividend could also be paid on the subsequent succeeding business day. Dividends are payable to holders of document on the relevant document date, which shall be the final day of the calendar month, whether or not or not a business day.
About MTBCP
CareCloud’s Series A Preferred Stock trades on the Nasdaq Global Market underneath the ticker image “MTBCP.” The Company beforehand redeemed 800,000 shares of its Series A Preferred Stock and should, at its possibility, upon not lower than 30 nor greater than 60 days’ written discover, redeem extra shares of the Series A Preferred Stock, in complete or partly, at any time or now and again, for money at a redemption worth of $25.00 per share, plus any accrued and unpaid dividends thereon to, however not together with, the date fastened for redemption.
About MTBCO
CareCloud’s Series B Preferred Stock trades on the Nasdaq Global Market underneath the ticker image “MTBCO.” Commencing on February 15, 2024, the Company might, at its possibility, upon not lower than 30 nor greater than 60 days’ written discover, redeem the Series B Preferred Stock, in complete or partly, at any time or now and again, for money at redemption costs of both $25.75 per share (for redemptions on and after February 15, 2024 and previous to February 15, 2025), $25.50 per share (for redemptions on and after February 15, 2025 and previous to February 15, 2026), $25.25 per share (for redemptions on and after February 15, 2026 and previous to February 15, 2027), or $25.00 per share (for redemptions on and after February 25, 2027), plus any accrued and unpaid dividends thereon to, however not together with, the date fastened for redemption. Upon the incidence of a Change of Control, the Company might, at its possibility, upon not lower than 30 nor greater than 60 days’ written discover, redeem the Series B Preferred Stock, in complete or partly, inside 120 days after the primary date on which such Change of Control occurred, for money at a redemption worth of $25.00 per share, plus any accrued and unpaid dividends thereon to, however not together with, the redemption date.
About CareCloud
CareCloud (Nasdaq: MTBC, MTBCP and MTBCO) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled options helps shoppers improve monetary and operational efficiency, streamline medical workflows and enhance the affected person expertise. Approximately 40,000 suppliers rely on CareCloud to assist them enhance affected person care whereas decreasing administrative burdens and working prices. Learn extra about our services and products together with income cycle administration (RCM), observe administration (PM), digital well being data (EHR), business intelligence, telehealth and affected person expertise administration (PXM) at www.carecloud.com.
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Disclaimer
This press launch is for data functions solely, and doesn’t represent a suggestion to promote or solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or different jurisdiction through which such supply, solicitation or sale could be illegal previous to the registration or qualification underneath the securities legal guidelines of such state or jurisdiction.
Forward Looking Statements
This press launch accommodates numerous forward-looking statements inside the which means of the secure harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future occasions, future outcomes of operations or future monetary efficiency. In some instances, you’ll be able to determine forward-looking statements by terminology equivalent to “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue or the negative of these terms or other comparable terminology.
Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of the Covid-19 pandemic on our financial performance and business activities, and the expected results from the integration of our acquisitions.
These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” within the Company’s filings with the Securities and Exchange Commission. In addition, there’s uncertainty in regards to the unfold of the Covid-19 virus and the affect it might have on the Company’s operations, the demand for the Company’s companies, and financial exercise normally.
The statements on this press launch are made as of the date of this press launch, even when subsequently made out there by the Company on its web site or in any other case. The Company doesn’t assume any obligations to replace the forward-looking statements supplied to mirror occasions that happen or circumstances that exist after the date on which they have been made.
SOURCE CareCloud
Company Contact:
Bill Korn
Chief Financial Officer
CareCloud
[email protected]
Investor Contact:
Gene Mannheimer
ICR Westwicke
[email protected]
Media Inquiries:
Alexis Feinberg
ICR Westwicke
[email protected]
