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MTBC launches preferred stock offering

Jul. 17, 2020 6:06 AM ETCareCloud, Inc. (CCLD) StockCCLDBy: Niloofer Shaikh, SA News Editor
  • MTBC (NASDAQ:MTBC) has commenced an underwritten public offering of ~800K shares of its non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock at $25/share, with underwriters' over-allotment of an additional 15% of the Series A Preferred Stock offered.
  • Holders of shares of Series A Preferred Stock will receive cumulative cash dividends at 11% p.a. of the $25/share liquidation preference and payable monthly on the 15th day of each month.
  • Net proceeds will be used for working capital, general corporate purposes and for potential future acquisitions.
  • Press release

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