Medical Transcription BillingCorp. has closed its oversubscribedpublic offering of 63,040 additional shares of its non-convertible 11%series A cumulative redeemable perpetual preferred stock at a price of $25.00 pershare.

Dividends on the preferred sharesare payable in cash monthly on a cumulative basis at the rate of 11% per annum ofthe $25.00 per share liquidation preference.

Medical Transcription received netproceeds of $1.4 million from the sale of the shares, after deducting underwritingdiscounts, commissions and other offering expenses.