Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 11:13 PM
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Slide #77. MTBC, Inc. — Preferred Stock Offering
MTBC, Inc. (NASDAQ:MTBC)
Date of Pricing:
Price Per Share:
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 800,000 shares of its non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock") at a proposed price of $25.00 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 7/16- 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 960,000 shares of Series A Preferred Stock, at a public offering price of $25.00 per share, for gross proceeds to the Company of $24.0 million.The Company also granted the underwriters a 30-day option to purchase up to an additional 144,000 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about July 21, 2020, subject to the satisfaction of customary closing conditions.
CareCloud is a healthcare information technology company that provides a suite of proprietary cloud-based solutions and related business services, to healthcare providers, from small practices to enterprise medical groups, hospitals, and health systems throughout the U.S. Co.'s Software-as-a-Service platforms include practice management, electronic health record, business intelligence, telehealth, patient experience management solutions, and robotic processing automation bots, along with complementary software tools and business services such as revenue cycle management, premiere healthcare consulting and implementation services, and on-demand workforce staffing capabilities.
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Strong Buy (3.86 out of 4)
(ranked higher than approx. 69% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com