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By Preferred Stock Channel Staff, updated Sunday, September 20, 12:13 PM

Slide #28. MTBC, Inc. Preferred Stock Offering

Company: MTBC, Inc. (NASDAQ:MTBCP)
Date announced: 4/22/2020
Shares Offered: 720,000
Date of Pricing: 4/23/2020
Price Per Share: $25.00
Preferred Stock Offering Details: MTBC, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leading provider of cloud-based healthcare IT solutions and services, today announced the commencement of an underwritten public offering of approximately 600,000 shares of its non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock"), which currently trades on Nasdaq Global Market with ticker "MTBCP", at a proposed price of $25.00 to $25.25 per share. In connection with the offering, MTBC expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the Series A Preferred Stock offered in the public offering. -updated 4/23- MTBC, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP) ("MTBC" or the "Company"), a leading provider of cloud-based healthcare IT solutions and services, today announced that it has upsized and priced its previously announced underwritten public offering of non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock"), which trades on the Nasdaq Global Market with ticker "MTBCP". The Company has agreed to sell 720,000 shares of Series A Preferred Stock, at a public offering price of $25.00 per share, for gross proceeds to the Company of $18.0 million. The Company also granted the underwriters a 30-day option to purchase up to an additional 108,000 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about April 27, 2020, subject to the satisfaction of customary closing conditions.

MTBC is a healthcare information technology company that provides cloud-based electronic health records and practice management applications, together with related business services, to healthcare providers. These applications and services include: Revenue cycle management (RCM) services, which include medical billing, eligibility, analytics, and related services; Proprietary healthcare Information Technology applications, which include electronic health records, practice management software and related tools, mobile health applications; Other practice management services; and Telemedicine service, which allows Co.'s clients to conduct remote office visits with patients.
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Name:  MTBC Inc
Website:  www.mtbc.com
Sector:  Application Software
 

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