CareCloud secures $50 million credit facility, redeems preferred stock

CareCloud Inc. (NASDAQ: CCLD, CCLDO) closed a $50 million credit facility with Citizens Bank and Provident Bank on April 13, 2026, according to a company statement. Citizens Bank served as lead arranger and administrative agent, while Provident Bank participated in the financing.

The healthcare technology company announced it will redeem all outstanding Series B Cumulative Redeemable Perpetual Preferred Stock on May 15, 2026, following a 30-day notice period. The redemption involves 1,511,372 shares at $25.25 per share plus accumulated dividends totaling $2.27, for a total of $27.52 per share.

The transaction eliminates approximately $3.2 million in annual preferred dividend obligations and replaces higher-cost preferred equity with institutional debt. CareCloud plans to delist the Series B Preferred Stock from the Nasdaq Global Stock Market in connection with the redemption.

CareCloud reported generating approximately $30 million in annualized adjusted EBITDA. The Somerset, New Jersey-based company provides AI-driven healthcare technology and revenue cycle management solutions to more than 45,000 providers.

"This transaction represents a transformative step for CareCloud," said Stephen Snyder, Chief Executive Officer. "With the full redemption of the Series B Preferred Stock, we are simplifying our capital structure and positioning the Company for its next phase of growth."

VStock Transfer LLC will serve as redemption agent for the preferred stock transaction. The Series B Preferred Stock is held in book-entry form through the Depository Trust Company, and redemption will follow applicable DTC procedures.

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