CareCloud shareholders tentatively approved increasing authorized common shares from 35 million to 85 million, reflecting strong support.
Quiver AI Summary
CareCloud, Inc., a prominent healthcare technology and generative AI solutions provider, announced that shareholders have tentatively approved increasing the authorized common shares from 35 million to 85 million, with over 10.4 million votes returned in favor, representing more than 80% of total votes submitted. This marks one of the highest levels of shareholder support in the company's history, underscoring confidence in its strategic direction. Co-CEO Stephen Snyder expressed gratitude for the shareholders' support, and the final vote count will be disclosed after a special meeting scheduled for January 27, 2025. CareCloud offers a variety of technology solutions aimed at enhancing operational performance and patient care for over 40,000 providers.
Potential Positives
- Shareholder approval for the increase in authorized common shares signals strong confidence in the company's future direction, with over 80% of votes in favor.
- The proposal represents one of the highest levels of positive shareholder engagement in the company's history, demonstrating robust support for CareCloud's growth strategy.
- Expanding the number of authorized shares may provide the company with greater flexibility for future financing and strategic initiatives.
Potential Negatives
- The proposal to increase the number of authorized shares may dilute existing shareholders' equity, potentially leading to a decrease in share value.
- The need to increase authorized shares could signal to investors that the company may require additional capital to fund operations or growth, which could raise concerns about financial stability.
- The reliance on shareholder approval for significant changes may indicate that the company is facing challenges in operating within its current capital structure.
FAQ
What proposal was tentatively approved by CareCloud shareholders?
Shareholders tentatively approved increasing the number of authorized common shares from 35 million to 85 million.
How many votes were cast in favor of the proposal?
Approximately 10.4 million votes were returned in favor, representing over 80% of the total votes submitted.
When will the final vote count be announced?
The final vote count will be announced after the Special Meeting scheduled for January 27, 2025.
Who is the Co-CEO of CareCloud?
Stephen Snyder is the Co-CEO of CareCloud, providing insights into the shareholder vote and company direction.
What services does CareCloud offer to healthcare providers?
CareCloud offers revenue cycle management, practice management, EHR, business intelligence, and patient experience management solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CCLD Insider Trading Activity
$CCLD insiders have traded $CCLD stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $CCLD stock by insiders over the last 6 months:
- CAMERON MUNTER sold 30,000 shares for an estimated $122,999
- JOHN N DALY has made 0 purchases and 2 sales selling 15,000 shares for an estimated $55,850.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CCLD Hedge Fund Activity
We have seen 15 institutional investors add shares of $CCLD stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HERON BAY CAPITAL MANAGEMENT added 33,510 shares (+96.9%) to their portfolio in Q3 2024, for an estimated $88,466
- BRIDGEWAY CAPITAL MANAGEMENT, LLC removed 29,790 shares (-11.1%) from their portfolio in Q3 2024, for an estimated $78,645
- MILLENNIUM MANAGEMENT LLC added 17,582 shares (+153.9%) to their portfolio in Q3 2024, for an estimated $46,416
- XTX TOPCO LTD added 16,012 shares (+inf%) to their portfolio in Q3 2024, for an estimated $42,271
- TWO SIGMA SECURITIES, LLC removed 13,863 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $36,598
- WEALTH EFFECTS LLC removed 12,857 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $47,056
- ENGINEERS GATE MANAGER LP added 11,921 shares (+inf%) to their portfolio in Q3 2024, for an estimated $31,471
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SOMERSET, N.J., Jan. 24, 2025 (GLOBE NEWSWIRE) --
CareCloud, Inc.
(the “Company” or “CareCloud”) (Nasdaq: CCLD, CCLDO, CCLDP), a leading provider of healthcare information technology and generative AI solutions for medical practices and health systems nationwide, today announced that shareholders have tentatively approved the proposal to increase the number of authorized common shares.
Approximately 10.4 million votes by proxy have been returned (the “votes”) in favor of increasing the authorized number of shares of common stock from 35 million to 85 million shares, marking one of the highest levels of positive votes in the Company’s history. The votes in favor represent over 80% of the total votes submitted.
“We truly appreciate the shareholders’ confidence in the Company’s direction, reflected in the nearly record-breaking number of ‘yes’ votes received by proxy,” said Stephen Snyder, Co-CEO of CareCloud.
The final vote count will be announced after the Common Stock Shareholder Special Meeting, scheduled for January 27, 2025.
About
CareCloud
CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at
www.carecloud.com
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SOURCE CareCloud
Company
Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com
Investor
Contact:
Stephen Snyder
Co-CEO
CareCloud, Inc.
ir@carecloud.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
