Leapmotor Targets 4 Million Annual EV Sales as Global Expansion Accelerates 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
China’s Iron Ore Buyer Pressures Mining Giants as New Supply Shifts Market Power 
Trump Administration Probes Corporate DEI Programs, Raising Questions for Google Stock 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
California DMV Proposes New Safety Rules for Autonomous Vehicles After Waymo Incidents 
TSMC Honors Japanese Chip Equipment Makers With 2025 Supplier Awards 
China’s LandSpace Takes Aim at SpaceX With Reusable Rocket Ambitions 
Winter Storm Devin Triggers Massive Flight Cancellations and Travel Disruptions Across the U.S. 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
SOMERSET, N.J., Sept. 28, 2017 -- MTBC (Nasdaq: MTBC) (Nasdaq: MTBCP) a leading provider of proprietary, cloud-based healthcare IT solutions and services, announced the closing of a public offering of 240,000 shares of its non-convertible Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) for $25 per share, for gross proceeds of $6 million.
“We’re pleased to have successfully closed this upsized and oversubscribed offering of our Series A Preferred Stock, which has paid cash dividends for 22 consecutive quarters” said Mahmud Haq, MTBC CEO. “We have raised a total of over $15 million since June from sales of our non-convertible Series A Preferred Stock, which has positioned us to repay debt and continue to grow our business.”
H.C. Wainwright & Co. acted as exclusive lead placement agent for the offering and Boenning & Scattergood, Inc. acted as co-placement agent. After deducting the placement agent’s fees and other estimated offering expenses payable by MTBC, the net proceeds to MTBC are anticipated to be approximately $5.3 million.
The shares of Series A Preferred Stock were sold pursuant to a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission (SEC) on September 25, 2017 and an additional registration statement filed pursuant to Rule 462(b). The final prospectus related to the offering has been filed with the SEC. Copies of the final prospectus, may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 4th Floor, New York, New York 10022, or by calling (646) 975-6996 or emailing [email protected] or may also be obtained at the SEC's website located at www.sec.gov.
About MTBC
MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers throughout the United States. Our integrated Software-as-a-Service (SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC's common stock trades on the NASDAQ Capital Market under the ticker symbol "MTBC," and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol "MTBCP."
Follow MTBC on TWITTER, LINKEDIN and FACEBOOK.
SOURCE MTBC
Company and Investor Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. [email protected] 732-873-5133
