UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Commission File Number: 333-
CareCloud, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 22-3832302 | |
(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
7 Clyde Road Somerset, New Jersey |
08873 | |
(Address of Principal Executive Offices) |
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(Zip Code) |
CareCloud, Inc. Amended and Restated Equity Incentive Plan
(Full title of the plan)
A. Hadi Chaudhry
Chief Executive Officer
7 Clyde Road
Somerset, New Jersey
(Name and address of agent for service)
(732) 873-5133
(Telephone number, including area code, of agent for service)
With copy to:
David S. Song, Esq.
Peter B. Katzman, Esq.
Song P.C.
26 Broadway, 8th Floor
New York, New York 10004
(212) 599-0700
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ | Accelerated filer ☒ | |
Non-Accelerated filer ☐ | Smaller reporting company ☒ | |
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 7(a)(2)(B) of the Securities Act. ☐
EXPLANATORY NOTE
CareCloud, Inc. (the “Company”) is filing this Registration Statement on Form S-8 relating to 1,000,000 shares of its Common Stock and 200,000 shares of its 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock (“Series B Preferred Stock”) issuable to participants under its Amended and Restated Equity Incentive Plan (the “Plan”).
The Company previously filed Form S-8 Registration Statement No. 333-203228 relating to 1,351,000 shares of Common Stock issuable to participants under the Plan, Form S-8 Registration Statement No. 333-217317 relating to 1,500,000 shares of Common Stock and 100,000 shares of its Series A Preferred Stock issuable to participants under the Plan, Form S-8 Registration Statement No. 333-226685 relating to 200,000 shares of its Series A Preferred Stock issuable to participants under the Plan and Form S-8 Registration Statement No. 333-239781 relating to 2,000,000 shares of Common Stock and 300,000 shares of its Series A Preferred Stock issuable to participants under the Plan.
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PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Information required by Part I to be contained in the Section 10(a) Prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933, as amended (the “Securities Act”), and the “Note” to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents have been filed by the Company with the Securities and Exchange Commission (the “SEC”) and are incorporated herein by reference:
● | our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 14, 2022; | |
● | our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed with the SEC on May 9, 2022; | |
● | our Current Reports on Form 8-K, filed with the SEC on January 31, 2022 (excluding such items as deemed furnished in such Form 8-K), February 9, 2022, February 14, 2022, February 15, 2022, February 25, 2022, June 2, 2022 and June 9, 2022; | |
● | our Definitive Proxy Statement on Schedule 14A, filed with the SEC on April 8, 2022; | |
● | the description of our Series B Preferred Stock contained in our Registration Statement on Form 8-A filed with the SEC on January 31, 2022, including all amendments or reports filed for the purpose of updating such description; | |
● | the description of our common stock and Series A Preferred Stock, each with $0.001 par value per share, contained in our Registration Statement on Form S-1/A filed with the SEC on April 22, 2020, including all amendments and reports filed for purposes of updating such descriptions; and | |
● | the description of our common stock contained in our Registration Statement on Form 8-A filed with the SEC on July 2, 2014. |
All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”), prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated herein by reference and to be part thereof from the date of filing of such documents.
Item 4. Description of Securities.
Not applicable.
Item 5. Interest of Named Experts and Counsel.
Not applicable.
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Item 6. Indemnification of Directors and Officers.
The Company’s amended and restated certificate of incorporation and bylaws provide for the indemnification of its directors and executive officers to the fullest extent permitted by the General Corporation Law of the State of Delaware (the “DGCL”). Sections 145 and 102(b)(7) of the DGCL generally provide that a corporation may indemnify any person made a party to an action by reason of the fact that he or she was a director or executive officer of such corporation. The Company has also entered into indemnification agreements with its directors and executive officers. The Company maintains insurance on behalf of its directors and officers.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibits follow the signature page to this Registration Statement.
Item 9. Undertakings.
(a) The Company hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Filing Fees Table” in the effective registration statement; and
(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
provided, however, that:
paragraphs (a)(1)(i) and (a)(1)(ii) will not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Company pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement;
(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b) The Company hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
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Signatures
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Somerset, State of New Jersey on June 10, 2022.
CareCloud, Inc. | ||
By: | /s/ A. Hadi Chaudhry | |
A. Hadi Chaudhry | ||
Chief Executive Officer |
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints A. Hadi Chaudhry and Bill Korn, and each of them, his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his or her substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature | Title | Date | ||
/s/ Mahmud Haq | Executive Chairman of the Board | June 10, 2022 | ||
Mahmud Haq | ||||
/s/ A. Hadi Chaudhry | CEO, President and Director | June 10, 2022 | ||
A. Hadi Chaudhry | (principal executive officer) | |||
/s/ Bill Korn | Chief Financial Officer | June 10, 2022 | ||
Bill Korn | (principal financial officer) | |||
/s/ Norman Roth | Controller | June 10, 2022 | ||
Norman Roth | (principal accounting officer) | |||
/s/ Anne Busquet | Director | June 10, 2022 | ||
Anne Busquet | ||||
/s/ John N. Daly | Director | June 10, 2022 | ||
John N. Daly | ||||
/s/ Cameron Munter | Director | June 10, 2022 | ||
Cameron Munter | ||||
/s/ Lawrence Sharnak | Director | June 10, 2022 | ||
Lawrence Sharnak | ||||
/s/ Stephen A. Snyder | Director | June 10, 2022 | ||
Stephen A. Snyder |
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EXHIBIT INDEX
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*Filed herewith
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