CareCloud (CCLDP) adds $10M secured credit line, refinances Wells Fargo debt

Rhea-AI Filing Summary

CareCloud, Inc. entered into a new credit agreement with Provident Bank, providing the company with an available line of credit of $10 million. At closing on September 3, 2025, CareCloud borrowed approximately $8.3 million under this facility to satisfy its obligation to Wells Fargo Bank that arose from the Medsphere Systems Corp. acquisition. The company’s obligations to Provident are secured by substantially all of CareCloud’s assets, meaning the lender has broad collateral coverage. Key terms of the agreement, including covenants and detailed conditions, are contained in the full credit documents filed as exhibits.

Insights

Capital structure and credit analyst

CareCloud replaces Medsphere-related debt with a new $10M secured credit line.

CareCloud obtained a $10 million line of credit from Provident Bank and immediately drew approximately $8.3 million to repay an obligation to Wells Fargo linked to the Medsphere Systems Corp. acquisition. This indicates a refinancing move rather than incremental borrowing for new initiatives, using the new facility to take out a specific acquisition-related liability.

The obligations to Provident are secured by substantially all of the company’s assets, which increases lender protection and can constrain the company’s flexibility in future financing if additional collateral is needed. The economic impact will depend on the detailed terms in the exhibits, such as interest rate, covenants, and maturity, which are referenced but not described here.

Subsequent disclosures that summarize the key financial terms of this facility and how it fits into CareCloud’s broader debt profile would help investors assess any change in interest expense and balance sheet risk following the Medsphere acquisition financing.

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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)

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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

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FAQ

What financing agreement did CareCloud (CCLDP) enter into with Provident Bank?

CareCloud entered into an agreement with Provident Bank that provides the company with an available line of credit of $10 million. This is described as a material definitive agreement.

How much did CareCloud (CCLDP) borrow at closing under the new credit line?

Upon closing on September 3, 2025, CareCloud borrowed approximately $8.3 million on its line of credit with Provident Bank.

What did CareCloud use the $8.3 million borrowing from Provident Bank for?

The approximately $8.3 million drawn at closing was used to satisfy CareCloud’s obligation to Wells Fargo Bank, which had been incurred in connection with the Medsphere Systems Corp. acquisition.

What collateral secures CareCloud’s new line of credit with Provident Bank?

CareCloud’s obligations to Provident Bank are secured by substantially all of the company’s assets, giving the lender broad collateral support.

Where can investors find the full terms of CareCloud’s credit agreement with Provident Bank?

The agreement and related note are filed as exhibits 10.1 and 10.2, and the company states that its brief description is qualified in its entirety by reference to the complete text of those documents.

Does this 8-K give investors third-party beneficiary rights under CareCloud’s credit agreement?

No. CareCloud explicitly states that investors and security holders are not third-party beneficiaries under the credit agreement and should not rely on its representations and warranties as characterizations of factual conditions.