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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): September 3, 2025
CARECLOUD,
INC.
(Exact
name of registrant as specified in its charter)
| Delaware |
|
001-36529 |
|
22-3832302 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
7
Clyde Road, Somerset,
New
Jersey, 08873
(Address
of principal executive offices, zip code)
(732)
873-5133
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common
Stock, par value $0.001 per share |
|
CCLD |
|
Nasdaq
Global Market |
| 8.75%
Series B Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share |
|
CCLDO |
|
Nasdaq
Global Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01 Entry into a Material Definitive Agreement
On
September 3, 2025, CareCloud, Inc. (the “Company”) entered
in an agreement (the “Agreement”) with Provident Bank (“Provident”) whereby Provident has provided the Company
with an available line of credit of $10 million.
Upon
closing, the Company borrowed approximately $8.3 million on its line of credit to satisfy the obligation to Wells Fargo Bank incurred
in connection with the Medsphere Systems Corp. acquisition. The Company’s obligations to Provident are secured by substantially
all of the Company’s assets.
The
foregoing description of the Agreement does not purport to be complete and is qualified entirely by reference to the complete text of
such document, a copy of which is attached as an exhibit to this Form 8-K and is incorporated herein by reference.
The
above description has been included to provide investors and security holders with information regarding the terms thereof. Investors
and security holders are not third-party beneficiaries under the credit agreement and should not rely on the representations, warranties
and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the thereto or any of their
respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change
after the date of the Agreement, which subsequent information may or may not be fully reflected in the Company’s disclosures.
Item 9.01 Financial Statements and Exhibits.
| (d) |
|
Exhibits. |
| |
|
|
| 10.1 |
|
Agreement dated September 3, 2025 between the Company and Provident Bank. |
| |
|
|
| 10.2 |
|
Commercial Line of Credit Note. |
| |
|
|
| 99.1 |
|
Press release dated September 9, 2025 |
| |
|
|
| 104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| |
CareCloud,
Inc. |
| |
|
| Date: September
9, 2025 |
By:
|
/s/
Norman Roth |
| |
|
Norman
Roth |
| |
|
Interim
Chief Financial Officer and Corporate Controller |
