MTBC Announces Upsizing and Pricing of $18.0 Million Public Offering of Preferred Stock
CareCloud, Inc. (MTBC)
Last carecloud, inc. earnings: 2/28 07:00 am
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US:NASDAQ Investor Relations:
ir.mtbc.com
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Source: GlobeNewswire
SOMERSET, N.J., April 23, 2020 (GLOBE NEWSWIRE) -- 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. B. Riley FBR, Ladenburg Thalmann and National Secur
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