Market Newsdesk

Bethesda, MD, Aug. 04, 2023 (GLOBE NEWSWIRE) — Alset Capital Acquisition Corp. (Nasdaq: ACAX) (“Alset”) provided updates today regarding stockholder redemptions.

As of July 28, 2023, Alset’s public stockholders holding 1,934,749 shares, out of a total of 1,976,036 shares of Class A common stock held by public stockholders, submitted requests to redeem their public shares for a pro rata portion of the trust account holding the proceeds from Alset’s initial public offering, leaving 41,287 shares of Class A common stock held by public stockholders remaining. The redemption price as of July 28, 2023 was approximately $10.50.

Alset will be accepting requests by any such redeeming public stockholders to withdraw their previously submitted redemption requests until 5:00 p.m. Eastern Time on Monday, August 7, 2023.

Stockholders who wish to withdraw their previously submitted redemption requests may do so by contacting Alset’s transfer agent VStock Transfer, LLC at Attn: DWAC team, Email: [email protected].

About 
Alset Capital Acquisition Corp.

Alset is a special purpose acquisition company formed for the purpose of entering a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses or entities. Alset began trading on the Nasdaq in February of 2022, and its common stock, warrants, units and rights are traded under the ticker symbols ACAX, ACAXW, ACAXU and ACAXR, respectively.

Forward Looking Statement

The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 with respect to the proposed business combination. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Alset’s securities; (ii) the failure to satisfy the conditions to the consummation of the business combination; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (iv) the outcome of any legal proceedings that may be instituted against any of the parties to the business combination agreement following the announcement of the entry into the business combination agreement and proposed business combination; (v) the ability of the parties to recognize the benefits of the business combination agreement and the business combination; (vi) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (vii) statements regarding the industry and market size of HWH International Inc. (“HWH”); (viii) financial condition and performance of HWH, including the anticipated benefits, the implied enterprise value, the expected financial impacts of the business combination, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of HWH and (ix) those factors discussed in Alset’s filings with the SEC and that are contained in the registration statement on Form S-4 and the related proxy statement relating to the business combination. You should carefully consider the foregoing factors and the other risks and uncertainties that are described in the “Risk Factors” section of the registration statement on Form S-4 and related proxy statement and other documents to be filed by Alset from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while HWH and Alset may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, subject to applicable law. Neither HWH nor Alset gives any assurance that HWH or Alset will achieve its expectations.

For investor inquiries, please contact:

Alset Capital Acquisition Corp.
4800 Montgomery Lane, Suite 210 Bethesda, MD 20814
Attn: Anthony S. Chan
[email protected] or 301-971-3955

Believe Urgent Change is Needed at Research Solutions to Address Underperformance, Poor Operational Execution, and Lack of Accountability

Highlight that Since Roy Olivier Became Chief Executive Officer, Research Solutions’ Share Price Has Declined More than 20%

THOUSAND OAKS, Calif., Aug. 04, 2023 (GLOBE NEWSWIRE) — Peter Derycz, Bristol Investment Fund Ltd. (“Bristol Fund”) and certain of Bristol Fund’s affiliates (collectively, the “Group”), who collectively beneficially own approximately 20% of Research Solutions, Inc.’s (NASDAQ: RSSS) outstanding shares, today issued an open letter from Mr. Derycz to RSSS shareholders regarding why change is needed at RSSS and the Group’s intention to nominate a full slate of highly qualified director candidates to RSSS’ board of directors at RSSS’ 2023 annual meeting of shareholders.

The full text of the letter from Mr. Derycz follows:

August 4, 2023

To My Fellow RSSS Shareholders:

As the Founder, Executive Chairman and one of the largest shareholders of Research Solutions, Inc. (the “Company” or “RSSS”), and as the previous President and Chief Executive Officer, I write to you now with a heavy heart due to the current state of the Company. I believe our Company is at a critical juncture and is in urgent need of change at both the board and management level in order to put the Company back on the right path. While I have repeatedly voiced my concerns to other members of the Company’s board of directors (the “Board”), their inaction and lack of urgency have compelled me to bring these matters to your attention.

When I stepped back from my position as President and Chief Executive Officer of the Company in March 2021 and Roy Olivier took over the role, I trusted that he would be a good steward of shareholder value and take action to make the Company more profitable and valuable. Mr. Olivier had a good business track record and the Board supported the idea of bringing in a “solid operator” to run the Company. My family and I, as large shareholders of the Company, remain heavily invested in the Company’s future, and I was hopeful that Mr. Olivier would generate a positive outcome for all RSSS shareholders.

On the Company’s Q4 2021 earnings conference call, Mr. Olivier shared parts of his strategy and vision for the Company with shareholders. Specifically, Mr. Olivier stated:¹

• “Our primary focus will be on growing recurring revenues from where they are today to over $20 million in three years…”
• “…we indicated that we wanted to review and update our IR plan, with a focus on expanding our shareholder base and working to garner additional analyst coverage. We have completed our initial review and have two firms providing analyst coverage at this time and we will continue to focus on executing a proactive IR strategy going forward.”
• “We intend to grow our recurring revenues or ARR from current levels to north of $20 million through accelerating organic growth and acquiring companies that are consistent with our product and business strategy.”

Since the CEO transition, I have been monitoring Mr. Olivier’s progress in achieving his stated goals, as well as three key areas with respect to the Company: 1) stock performance, 2) financial performance and 3) management of the operations team. Unfortunately, I have been deeply disappointed on all three fronts, as demonstrated by the following:

• The Company’s stock price is down approximately 22% since Mr. Olivier took over as CEO.² Long-term shareholders are losing money and potential shareholders are not excited by what they see or hear.
• The Company’s annual selling, technology, general and administrative (“SG&A”) run-rate has grown by approximately $3.7 million since Mr. Olivier was appointed as CEO.³ In my opinion, this bloat in SG&A is unnecessary, harmful to the Company’s share price, and significantly reduces the quarterly cash the Company could be generating.
• High turnover among the senior management team has deprived the Company of valuable personnel and led to concern about the Company’s direction. The senior management team that was in place in late 2021 took years to hire and train, they all had decades of information industry experience and were directly responsible for pivoting the Company to Platform revenue and achieving the highest levels of year over year Platform ARR growth the Company has ever seen to this day. Half of that team is now gone, in addition to numerous other key personnel changes. The super-efficient Chief Financial Officer was let go, the Chief Technology Officer who built all of our systems quit, and the high-performance Chief Revenue Officer was let go despite consistently delivering record new Platform revenue. Quarterly New Platform revenue has dropped by approximately 42% in the year he left and I fear that critical senior management and other key personnel will continue to turnover under the current regime.⁴

As previously stated, Mr. Olivier forecasted that in three years the Company’s most valuable line of business, Platform annual recurring revenues (“ARR”), could grow from approximately $6 million to approximately $20 million. According to Mr. Olivier this growth would occur both organically and through transformative acquisitions. Now, two and a half years after he first began his tenure at RSSS, the Company is nowhere close to achieving this key metric as ARR is at approximately $9 million as of last reported quarter.⁵ Neither the organic growth nor the M&A-driven growth that Mr. Olivier pointed to has materialized and the Platform growth rate has plummeted. The Company’s share price reflects this disappointment, as it remains approximately 22% below the closing price when Mr. Olivier was appointed as CEO and far below the levels it traded when the market expected better things from RSSS.⁶

I have repeatedly shared my disappointment and my view that the status quo cannot continue with my fellow directors. Their response has been to express unwavering commitment for Mr. Olivier in the apparent hope that by continuing to blindly support him, things will somehow eventually improve. Now after years of poor performance, I believe that maintaining the status quo is no longer tenable and change is needed immediately to right the ship. I believe this change needs to include the replacement of directors who have refused to hold Mr. Olivier accountable and take the actions that are necessary at the Company.

Accordingly, I intend to nominate a majority slate of highly qualified and seasoned director candidates to the Board for election at the Company’s 2023 annual meeting of shareholders, including:

• Paul Kessler, founder of Bristol Investment Fund Ltd., one of RSSS’s largest shareholders;
• Jan Peterson, scholarly and scientific information industry veteran with decades of experience and a former director of the Company;
• Alan Urban, the Company’s former high performing CFO has 20 years’ experience in the information industry and over 30 years’ experience in corporate finance and accounting;
• Michael Breen, the Executive Chairman and interim CEO of GT Biopharma, Inc. (NASDAQ: GTBP);
• Andrew Ritter, a successful artificial intelligence and healthcare technology entrepreneur; and
• Myself, Peter Derycz, Executive Chairman and former President and CEO of the Company.

I intend to continue communicating my views to shareholders and I invite any shareholders to reach out to me with their views on the Company. Below, please find additional details on my views of the state of the Company and why change is urgently needed.

Why Change is Needed at Research Solutions, Inc. (RSSS)

• Share Price Underperformance

After two and a half years, CEO Roy Olivier has produced no noticeable shareholder value. In fact, the market price of RSSS stock has decreased 22%, from $2.61 on October 4, 2021 (the date of his appointment as CEO) to $2.05 as of July 28, 2023.⁷

RSSS Stock Price (10/4/2021 to 7/28/2023)

Source: Yahoo Finance

RSSS compared to NASDAQ Composite Index (10/4/2021 to 7/28/2023)

Source: Yahoo Finance

• Stunning Increase in SG&A Expenses

Mr. Olivier has lacked discipline in controlling SG&A expenses, which have increased a stunning ~39% since Mr. Olivier was appointed interim CEO on March 29, 2021 (~$3.7 million increase in SG&A expenses for the 12 months ended 3/31/2023 compared to 12 months ended 3/31/2021).⁸

• Distressing Decrease in Net New Platform ARR and Deployments

Since Mr. Olivier was appointed interim CEO on March 29, 2021, there has been a distressing 38% decrease (from $534K to $331K) in net new Platform ARR, and a 51% decrease (from 51 to 25) in platform deployments (3/31/2023 quarter compared to 3/31/2021 quarter).⁹

• Failure to Translate Revenue Growth and Margin Improvement into Shareholder Value

Mr. Olivier has failed to translate revenue growth and margin improvement into shareholder value due to his inability to properly message and deliver an effective investor relation program, which has led to no significant interest in RSSS stock from current or potential new shareholders.

• Alarming Disconnect Between Current Stock Price and Implied Price Based on Applicable Valuation Multiples

Prior to the public announcement of the formation of a 13D group by Peter Derycz and Bristol, the price of RSSS stock was $2.05,¹⁰ but based on applicable valuation multiples as set forth in the Software Equity Group Quarterly SaaS Report for Q2 2023 and the Berkerey Noyes Q1 2023 Information Industry Trends, we believe it should be $2.57. The alarming ~25% disconnect is further evidence that current and potential new shareholders have grown weary and unimpressed in Mr. Olivier’s uninspiring performance and his inability to take any corrective action after two and a half years.

• Failed SaaS ARR Acquisition Strategy

Despite a well published SaaS ARR acquisition strategy, after two and a half Mr. Olivier has failed to execute on the strategy and has produced no noticeable results or shareholder value. The recently announced acquisition of ResoluteAI, while positive, is simply too little too late.

• Disturbing Lack of Sense of Urgency or Importance of Share Price Underperformance

The Board lacks a sense of urgency and has failed to grasp the critical importance of creating shareholder value. Despite repeatedly raising concerns and urging action, my fellow directors have been unwilling to hold Mr. Olivier accountable for the share price underperformance he has overseen and the Board has not taken needed corrective action after two and a half years.

• No New Ideas Resulting in No New Shareholders and Fatigued Current Shareholders

Despite high hopes, Mr. Olivier has failed to produce any new, creative, or inspiring ideas which has resulted in a lack of new shareholders and fatigued current shareholders. In fact, the “Key Takeaways” slide of the Company’s May 2023 investor presentation is almost identical to the same 4+ year old slide from the Company’s October 2018 investor presentation.¹¹

• Conclusion – Unlikely Shareholder Value Will be Created Unless There is a Refreshed Board, CEO and CFO

We have concluded that it is unlikely shareholder value will be created unless there is a refresh of the current Board and CEO. All shareholders will benefit from a refreshed Board and CEO that are aligned and focused on the critical importance and urgency of creating shareholder value. All shareholders will benefit from a refreshed Board that will hold the CEO accountable for creating shareholder value by executing on an effective and greatly improved investor relation program, properly managing SG&A expenses, focusing on revenue growth, critically evaluating the SaaS acquisition strategy and associated costs, returning capital to shareholders, and inspiring and re-engaging with current and potential new shareholders.

/s/ Peter Derycz
Executive Chairman

About Peter Derycz

Mr. Derycz is the Founder and Executive Chairman of Research Solutions, Inc. and previously served as the President and Chief Executive Officer. Mr. Derycz has also founded and served as the Chief Executive Officer and a member of the board of directors of several other companies.

About Bristol Investment Fund Ltd.

Bristol primarily focuses on the small cap sector of public companies and private companies with similar valuation metrics where we believe there is the greatest potential for growth. Bristol evaluates the enterprise, financial condition, strength of management, strategy, governance, shareholder constituency, and potential catalysts for growth in identifying those companies best suited for investment allocation.

^{___________________
1}  https://seekingalpha.com/article/4456841-research-solutions-inc-s-rsss-ceo-roy-olivier-on-q4-2021-results-earnings-call-transcript
² Closing price of $2.61 on October 4, 2021 compared to closing price of $2.05 July 28, 2023. Yahoo Finance.
³ Comparing Net New ARR March 31, 2023 Quarter to June 30, 2022 Quarter. “Financial Highlights” file as posted on the Company’s investor relations website: https://researchsolutions.investorroom.com/investor-information
⁴ Company filings with the Securities and Exchange Commission (“SEC”).
⁵ Company filings with the SEC.
⁶ Closing price of $2.61 on October 4, 2021 compared to closing price of $2.05 July 28, 2023. Yahoo Finance.
⁷ Yahoo Finance.
⁸ Company filings with the SEC
⁹  “Financial Highlights” file as posted on the Company’s investor relations website: https://researchsolutions.investorroom.com/investor-information
¹⁰ As of July 28, 2023.
¹¹ May 2023 Investor Presentation: https://researchsolutions.investorroom.com/products

12166600-6 

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/88df7859-cba1-46f5-850a-fedac56dd129
https://www.globenewswire.com/NewsRoom/AttachmentNg/30f55a1f-c9dc-4d3b-a6cb-94e48d66ff5b
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5a3ecc1-1fb6-4770-9cf0-48bf1781e2b2
https://www.globenewswire.com/NewsRoom/AttachmentNg/e3facb2d-e219-45ae-a8da-d0fe934059e7
https://www.globenewswire.com/NewsRoom/AttachmentNg/67ee7b08-7ab1-49a3-8301-186945f05c51
https://www.globenewswire.com/NewsRoom/AttachmentNg/a565541c-2787-433b-b79f-5f2f3f4d0d58

Contact

Peter Derycz
(310) 990-8085
[email protected]

Parsippany, New Jersey, USA, Aug. 04, 2023 (GLOBE NEWSWIRE) — Wireless Telecom Group, Inc. (the “Company” or “WTT”), a leading test & measurement solutions provider, today announced that Maury Microwave, a leading provider of state-of-the-art RF measurement and interconnect solutions for wireless communication technologies, completed its previously announced acquisition of WTT.

“The combination of Maury Microwave and WTT, including its prominent test and measurement divisions Boonton, Holzworth, and Noisecom, will enable us to provide even more comprehensive solutions and superior service to our customers,” Maury Microwave Executive Chairman Bill Pezza said. “We welcome the talented team from WTT to the Maury organization and look forward to a future of innovative growth together.”

Daniel Monopoli, WTT’s General Manager stated, “At WTT, we are all excited to collaborate with the Maury team to usher in the Company’s next phase of growth and look forward to developing a complementary technology portfolio that provides even greater value to our customers, suppliers, and employees.”

The all-cash transaction was announced on May 25, 2023. Under the terms of the merger agreement, Maury acquired all the outstanding shares of the Company for cash consideration of $2.13 per share. Payment of the merger consideration will be made as promptly as practical following receipt of written confirmation of administrative approval by the State of New Jersey, which is expected in approximately seven business days.

In connection with the completion of the transaction, WTT’s common stock ceased trading and is no longer listed on the NYSE American.

Advisors

CDX Advisors served as exclusive financial advisor and Bryan Cave Leighton Paisner LLP served as legal counsel to WTT. Morgan, Lewis & Bockius LLP served as legal counsel to Maury Microwave.

About Wireless Telecom Group, Inc.

Wireless Telecom Group, Inc., comprised of Boonton, Holzworth, and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems, and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal generators, phase noise analyzers, signal processing modules, noise sources, and programmable noise generators, Wireless Telecom Group enables the development, testing, and deployment of wireless technologies around the globe. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support. Wireless Telecom Group’s website address is http://www.wirelesstelecomgroup.com.

About Maury Microwave, Inc.

Headquartered in Ontario, CA, Maury Microwave, Inc. designs and manufactures state-of-the-art RF measurement and interconnect solutions that enable the world’s best wireless communication technologies and networks to get better, faster, and stronger.

For more information, please visit https://www.maurymw.com

Contacts
Michael Kandell
25 Eastmans Road
Parsippany, NJ 07054
Tel: (973) 386-9696
Fax: (973) 386-9191
www.wirelesstelecomgroup.com

NEW YORK, Aug. 04, 2023 (GLOBE NEWSWIRE) — Better Choice Company (NYSE: BTTR) (“Better Choice” or “the Company”), a pet health and wellness company, today announced it has appointed Carolina (“Nina”) Martinez as Chief Financial Officer, giving its interim CFO the role on a permanent basis effective August 7, 2023. Nina will lead the Company’s financial strategy and function, and will report directly to Kent Cunningham, Chief Executive Officer of Better Choice.

“I am pleased to welcome Nina to the Better Choice executive management team,” said Cunningham. “Nina brings valuable restructuring and process improvement experience along with proven judgment, and I am thrilled to team up with her to lead the way to profitable growth.”

Martinez joins Better Choice from ONE10 Advisors, a consultancy of strategic finance and accounting solutions, where she most recently served as Interim CFO for a consumer packaged goods company, leading through IPO readiness to initial S-1 filing. Prior to joining ONE10, she spent eight years at PricewaterhouseCoopers, a leading global professional services provider, in Assurance leadership roles in the retail and consumer sector. Martinez holds a M.S. in Accounting from the University of Tampa, and a B.S. in Business Administration from the University of Central Florida. She is also a licensed Certified Public Accountant in the state of Florida. 

“Better Choice and its Halo brand portfolio have significant opportunities to unlock profit,” said Martinez. “Our recent restructuring positions us to achieve financial and operational stability in the near future. We are focused on our core strengths and continued margin improvement for the balance of year and into 2024. I look forward to continuing working with Kent and the leadership team in executing the company’s path to profitability.”

“We are very pleased to have Nina take over the leadership role of CFO at Better Choice following the restructuring that the Company has executed. We are confident that Nina’s addition as the CFO is a pivotal step in the future growth of Better Choice,” commented Michael Young, Chairman of Better Choice.

About Better Choice Company, Inc.

Better Choice Company Inc. is a pet health and wellness company focused on providing pet products and services that help dogs and cats live healthier, happier, and longer lives. We offer a broad portfolio of pet health and wellness products for dogs and cats sold under our Halo brand across multiple forms, including foods, treats, toppers, dental products, chews, and supplements. We have a demonstrated, multi-decade track record of success and are well positioned to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. Our products consist of kibble and canned dog and cat food, freeze-dried raw dog food, and treats, vegan dog food and treats, oral care products and supplements. Halo’s core products are made with high-quality, thoughtfully sourced ingredients for natural, science-based nutrition. Each innovative recipe is formulated with leading veterinary and nutrition experts to deliver optimal health. For more information, please visit https://www.betterchoicecompany.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Contact:

KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
[email protected]

SOMERSET, N.J., Aug. 04, 2023 (GLOBE NEWSWIRE) —

CareCloud
, Inc.
 (the “Company”) (Nasdaq: CCLD, CCLDP, CCLDO), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that its Board of Directors has declared monthly cash dividends for its 11% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) and its 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock (“Series B Preferred Stock”) for September, October and November 2023. This represents 97 consecutive months of dividends declared since the Series A Preferred Stock was initially sold in November 2015.

The following table shows the monthly dividends and associated record and payment dates:

	Sept. 20 2 3		Oct. 202 3		Nov. 20 2 3
Series A dividend per share	$0.22917		$0.22917		$0.22917
Series B dividend per share	$0.18229		$0.18229		$0.18229
Ex-dividend date	Sept. 28, 2023		Oct. 30, 2023		Nov. 29, 2023
Record date	Sept. 30, 2023		Oct. 31, 2023		Nov. 30, 2023
Payment date	Oct. 16, 2023		Nov. 15, 2023		Dec. 15, 2023

Holders of shares of the Series A Preferred Stock are entitled to receive cumulative cash dividends at the rate of 11% per annum of the $25.00 per share liquidation preference (equivalent to $2.75 per annum per share). Holders of shares of the Series B Preferred Stock are entitled to receive cumulative cash dividends at the rate of 8.75% per annum of the $25.00 per share liquidation preference (equivalent to $2.1875 per annum per share).

Dividends on the Series A Preferred Stock and Series B Preferred Stock are cumulative and payable monthly on the 15^th day of each month; provided that if any dividend payment date is not a business day, then the dividend may be paid on the next succeeding business day. Dividends are payable to holders of record on the applicable record date, which shall be the last day of the calendar month, whether or not a business day.

About
CCLD
P

CareCloud’s Series A Preferred Stock trades on the Nasdaq Global Market under the ticker symbol “CCLDP.” The Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem additional shares of the Series A Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but not including, the date fixed for redemption.

About
CCLD
O

CareCloud’s Series B Preferred Stock trades on the Nasdaq Global Market under the ticker symbol “CCLDO.” Commencing on February 15, 2024, the Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem the Series B Preferred Stock, in whole or in part, at any time or from time to time, for cash at redemption prices of either $25.75 per share (for redemptions on and after February 15, 2024 and prior to February 15, 2025), $25.50 per share (for redemptions on and after February 15, 2025 and prior to February 15, 2026), $25.25 per share (for redemptions on and after February 15, 2026 and prior to February 15, 2027), or $25.00 per share (for redemptions on and after February 25, 2027), plus any accumulated and unpaid dividends thereon to, but not including, the date fixed for redemption. Upon the occurrence of a Change of Control, the Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem the Series B Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but not including, the redemption date.

About
CareCloud

CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at www.carecloud.com.

For additional information, please visit our website at www.carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view our latest investor presentation, please visit ir.carecloud.com.

Follow CareCloud on LinkedIn, Twitter and Facebook.

Disclaimer

This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

Forward Looking Statements

This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of the Covid-19 pandemic on our financial performance and business activities, and the expected results from the integration of our acquisitions.

These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. In addition, there is uncertainty about the spread of the Covid-19 virus and the impact it may have on the Company’s operations, the demand for the Company’s services, and economic activity in general.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE CareCloud

Company Contact:

Bill Korn
Chief Strategy Officer
CareCloud
[email protected]

Investor Contact:

Asher Dewhurst
ICR Westwicke
[email protected]

Media Inquiries:

Alexis Feinberg
ICR Westwicke
[email protected]