Somerset, NJ, July 22, 2014 (GLOBE NEWSWIRE) — MTBC (Nasdaq: MTBC), a leading provider of proprietary,
web-based electronic health records, practice management and
mHealth solutions, announced the pricing of its initial public
offering of 4,080,000 shares of common stock at $5.00 per
share. In addition, MTBC has granted the underwriters a
30-day option to purchase from it an additional 612,000 shares of
common stock.
MTBC’s common stock has been approved for listing on the NASDAQ
Capital Market under the ticker symbol “MTBC” and trading will
begin on July 23, 2014.
The total gross proceeds of the offering are expected to be
approximately $20.4 million, before underwriting discounts and
commissions and other offering expenses. MTBC intends to use
the net proceeds of the offering to fund the cash portion of the
purchase price of targeted medical billing companies. The remaining
proceeds will be used for working capital and other general
corporate purposes.
Chardan Capital Markets, Aegis Capital Corp. and Summer Street
Research Partners acted as joint book-running managers for the
offering. The offering is expected to close on or about July
28, 2014.
The registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
July 22, 2014. The offering is being made solely by means of a
prospectus. This press release shall not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Copies of the final prospectus
relating to the offering may be obtained, when available, by
contacting the Company at:
Brendan Harney
MTBC
(732) 873-5133 x 172
or the underwriters at:
Chardan Capital Markets, LLC, 17 State Street, Suite 1600, New
York, New York, 10004, Attn: Scott Blakeman, Aegis Capital Corp.,
Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY
10019, via telephone: 212-813-1010, or via e-mail: prospectus@aegiscap.com or
Summer Street Research Partners, Attention: Prospectus Department,
101 Arch Street, Boston, MA 02110 or by telephone at
+1-617-532-6464.
About Medical Transcription Billing Corp.
Medical Transcription Billing, Corp. 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 practicing in ambulatory care
settings. Our integrated Software-as-a-Service (or SaaS) platform
helps our customers increase revenues, streamline workflows and
make better business and clinical decisions, while reducing
administrative burdens and operating costs. For additional
information, please visit our website at www.mtbc.com.
Disclaimer:
This press release is for information purposes only, and does
not constitute an offer to sell or solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
