- 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