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In a recent transaction, Schonfeld Strategic Advisors LLC, a significant shareholder of iCoreConnect Inc. (NASDAQ:ICCT), sold a substantial portion of its holdings in the company. The firm disposed of a total of 132,378 shares of iCoreConnect’s common stock on April 28, 2025. The shares were sold at a weighted average price ranging from $2.243 to $2.285 per share, resulting in a total transaction value of approximately $299,500. The sale comes amid challenging market conditions for ICCT, with the stock down 89% over the past year and currently trading below its InvestingPro Fair Value.
Following the sale, Schonfeld Strategic Advisors continues to hold shares through its various funds. Specifically, 131,063 shares remain held through Schonfeld Strategic Partners Fund LLC, 56,059 shares through Schonfeld Fundamental Equity Fund LLC, and 16,600 shares through Schonfeld Systematic Alpha Fund LLC.
These transactions reflect Schonfeld’s ongoing management of its investment portfolio, as it adjusts its positions in iCoreConnect Inc., a company known for its healthcare technology solutions.
In other recent news, iCoreConnect Inc. has been granted an extension by NASDAQ to comply with listing standards, allowing the company until May 15, 2025, to file its overdue annual report for the fiscal year ending December 31, 2024. This follows a series of compliance issues, including a failure to meet NASDAQ’s minimum stockholders’ equity and timely filing requirements. Additionally, iCoreConnect is engaged in a legal dispute with PIGI Solutions, LLC, over a claimed debt of approximately $2.43 million, with discussions ongoing to prevent a planned auction of the company’s assets. In a strategic move, iCoreConnect has also entered into a Channel Partner agreement with J&R Dynasty Corporation, operating as Florida Merchant Services, to provide operational solutions to dental practices. This partnership is expected to enhance efficiency for dental practices by offering access to iCoreConnect’s cloud-based solutions. Furthermore, iCoreConnect has canceled warrants for purchasing 142,690 shares of its common stock to prevent potential dilutive effects. This action aligns with the company’s strategy to maintain a stable equity base and is seen as a positive signal regarding its financial health. Investors and stakeholders are closely monitoring these developments as they unfold.
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