Item 8.01 Other Events.
On February 15, 2022, the Registrant gave notice of its intention to redeem
800,000 shares (the "Redeemed Shares") of its 11% Series A Cumulative Redeemable
Perpetual Preferred Stock (the "Series A Preferred Stock") on March 18, 2022
(the "Redemption Date").
In accordance with the amended and restated certificate of designations for the
Series A Preferred Stock, the Redeemed Shares will be redeemed at a cash
redemption price of $25.00 per share, plus any accrued and unpaid dividends
(whether or not declared) up to, but not including, the Redemption Date in an
amount equal to $0.1375 per share, for a total payment of $25.1375 per share.
From and after the Redemption Date, dividends on the Redeemed Shares will cease
to accumulate, the Redeemed Shares will no longer be outstanding, and all rights
of the holders of such shares will terminate, except the right of the holders to
receive the cash payable upon such redemption, without interest.
Regular dividends on the outstanding shares of Series A Preferred Stock of $2.75
per share will be paid separately on March 15, 2022 to holders of record as of
the close of business on February 28, 2022, in the customary manner.
Accordingly, the redemption price for the Series A Preferred Stock will not
include such dividends, but it will include a partial month dividend from March
1, 2022 up to, but not including, the Redemption Date.
A copy of a press release announcing the notice of redemption is "furnished" as
Exhibit 99.1 to this Current Report on Form 8-K. The information in Exhibit 99.1
shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934 ("Exchange Act"), or incorporated by reference in any
filing under the Securities Act of 1933 or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press Release issued February 15, 2022 by CareCloud, Inc.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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