CareCloud Pays Off Credit Line, Signs an Updated Credit Facility Agreement
CareCloud, Inc. (CCLD)
Company Research
Source: GlobeNewswire
SOMERSET, N.J., Oct. 28, 2024 (GLOBE NEWSWIRE) -- -- CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that it has fully paid down its credit facility line with Silicon Valley Bank (“SVB”), achieving a key 2024 objective. Additionally, CareCloud requested and secured a reduction in its borrowing fees and lowered its overall revolving credit facility limit. “We are thrilled to have reached this important strategic milestone,” said Norm Roth, Interim CFO and Corporate Controller of CareCloud. “We started 2024 with a $10 million outstanding balance and a clear goal to significantly increase our free cash flow, allowing us to fully pay down this debt. We are pleased to have accomplished this ahead of schedule, achieving a zero balance at the end of the third quarter.” “Along with eliminating the credit facility balance — which had been incurring inte
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CCLD
Earnings
- 11/12/24 - Beat
CCLD
Sec Filings
- 2/11/25 - Form 4
- 2/11/25 - Form 4
- 2/11/25 - Form 4
- CCLD's page on the SEC website