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MTBC announces $15M upsized public offering of preferred stock

  • Medical Transcription Billing (NASDAQ:MTBC) announces the sale in an upsized public offering of approx. 600,000 additional shares of its non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock at a price of $25 per share, for gross proceeds of ~$15M.
  • Net proceeds of ~$13.3M will be used for growth initiatives, including potential future acquisitions, as well as working capital and general corporate purposes.
  • Closing date is October 15.
  • Previously: Medical Transcription Billing files for preferred stock offering (Oct. 10)

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