Loan & DebtMay 18, 2026, 08:01 AM
CareCloud Redeems All Preferred Stock with New $50M Credit Facility
AI Summary
CareCloud, Inc. announced the full redemption of its 8.75% Series B Preferred Stock, a significant step in its capital structure evolution. This redemption was funded by a new $50 million credit facility, replacing higher-cost preferred equity with lower-cost institutional financing. The company highlighted its growth, including expected 2026 revenue of $130 million and positive GAAP net income in 2025, and noted its $60 million ATM facility for opportunistic growth capital at or above $5.00 per share.
Key Highlights
- CareCloud fully redeemed 100% of its 8.75% Series B Preferred Stock.
- Redemption was funded by a new $50 million credit facility led by Citizens Bank.
- The new facility replaces higher-cost preferred equity with lower-cost institutional financing.
- Company expects approximately $130 million in revenue for 2026.
- Achieved its first full year of positive GAAP net income in 2025.
- Anticipates approximately $30 million in annualized adjusted EBITDA for 2026.
- Maintains a $60 million At-The-Market (ATM) equity facility.
- Intends to utilize the ATM opportunistically only at or above $5.00 per share.
Price Impact
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