CareCloud Shareholders Tentatively Approve Proposal to Increase Authorized Common Shares with Record Voter Turnout
CareCloud (NASDAQ: CCLD) announced that shareholders have tentatively approved a proposal to increase authorized common shares from 35 million to 85 million. The company received approximately 10.4 million votes by proxy in favor of the increase, representing over 80% of total votes submitted - one of the highest levels of positive votes in the company's history. The final vote count will be announced after the Common Stock Shareholder Special Meeting on January 27, 2025.
CareCloud (NASDAQ: CCLD) ha annunciato che gli azionisti hanno approvato provvisoriamente una proposta per aumentare le azioni ordinarie autorizzate da 35 milioni a 85 milioni. L'azienda ha ricevuto circa 10,4 milioni di voti per delega a favore dell'aumento, rappresentando oltre il 80% del totale dei voti espressi - uno dei livelli più alti di voti favorevoli nella storia dell'azienda. Il conteggio finale dei voti sarà annunciato dopo l'Assemblea Speciale degli Azionisti delle Azioni Ordinarie del 27 gennaio 2025.
CareCloud (NASDAQ: CCLD) anunció que los accionistas han aprobado provisionalmente una propuesta para aumentar las acciones ordinarias autorizadas de 35 millones a 85 millones. La compañía recibió aproximadamente 10.4 millones de votos por poder a favor del aumento, lo que representa más del 80% del total de votos presentados, uno de los niveles más altos de votos positivos en la historia de la empresa. El conteo final de votos se anunciará después de la Junta Especial de Accionistas de Acciones Ordinarias el 27 de enero de 2025.
CareCloud (NASDAQ: CCLD)는 주주들이 승인한 제안이 임시로 승인되었다고 발표했습니다. 이는 보통주 발행 주식을 3천5백만에서 8천5백만으로 증가시키는 것입니다. 회사는 1040만 표의 위임 투표를 수령하여 증가에 찬성했으며, 이는 제출된 총 투표의 80% 이상에 해당합니다. 이는 회사 역사상 가장 높은 찬성 투표 수치 중 하나입니다. 최종 투표 수치는 2025년 1월 27일에 열리는 보통주주 특별회의 후에 발표될 예정입니다.
CareCloud (NASDAQ: CCLD) a annoncé que les actionnaires ont provisoirement approuvé une proposition d'augmentation des actions ordinaires autorisées de 35 millions à 85 millions. La société a reçu environ 10,4 millions de votes par procuration en faveur de l'augmentation, représentant plus de 80% des votes totaux soumis, l'un des niveaux les plus élevés de votes positifs de l'histoire de l'entreprise. Le décompte final des votes sera annoncé après l'Assemblée spéciale des actionnaires d'actions ordinaires le 27 janvier 2025.
CareCloud (NASDAQ: CCLD) gab bekannt, dass die Aktionäre vorläufig einen Vorschlag zur Erhöhung der genehmigten Stammaktien von 35 Millionen auf 85 Millionen genehmigt haben. Das Unternehmen erhielt etwa 10,4 Millionen Stimmen durch Vollmacht zugunsten der Erhöhung, was über 80% der insgesamt abgegebenen Stimmen entspricht - eines der höchsten positiven Abstimmungsergebnisse in der Unternehmensgeschichte. Die endgültige Stimmenauszählung wird nach der außerordentlichen Hauptversammlung der Stammaktionäre am 27. Januar 2025 bekanntgegeben.
- Strong shareholder support with 80% approval rate for share increase
- Record-level voter participation indicating strong shareholder engagement
- Significant share increase (50M shares) indicates potential future dilution risk for current shareholders
Insights
The overwhelming shareholder support for CareCloud's share authorization increase proposal, with over 80% approval from proxy votes, signals a important turning point for the healthcare IT provider. The proposed expansion from 35 million to 85 million authorized shares represents a substantial 142.8% increase in potential share capacity.
This strategic move typically serves multiple corporate objectives. First, it provides financial flexibility for potential accretive acquisitions in the competitive healthcare IT space without requiring additional shareholder approvals. Second, it enables rapid capital raising capabilities through equity offerings if market conditions become favorable. Third, it creates a reserve for employee compensation programs and potential strategic partnerships.
The remarkably high voter turnout suggests strong shareholder alignment with management's vision, particularly noteworthy given that share authorization increases often face skepticism due to dilution concerns. However, it's important to understand that authorization doesn't equate to immediate issuance - it merely provides the company with the tools for future strategic actions.
For investors, the key considerations are threefold:
- The company's track record in capital allocation and M&A execution will be critical in determining how effectively these additional shares might be utilized
- The timing and nature of any future share issuances will impact existing shareholders' positions
- The market's reaction to actual share issuances, when and if they occur, will likely depend on the specific use case and perceived value creation potential
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
“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
FAQ
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