CareCloud, Inc. announced on January 24, 2025, that its shareholders have tentatively approved a proposal to increase the number of authorized common shares. This approval is a significant step for the company's future growth plans.
Approximately 10.4 million votes by proxy were returned in favor of increasing the authorized common stock from 35 million to 85 million shares. This represents over 80% of the total votes submitted, indicating strong shareholder confidence.
The increase in authorized shares is intended to provide CareCloud with the flexibility needed for strategic growth initiatives, including future acquisitions and enabling the potential conversion of the company's outstanding Series A Preferred Stock to Common Stock.
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