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Medical Transcription Billing closes preferred equity offering

Medical Transcription Billing Corp. has closed its public offering of 155,440 nonconvertible 11% series A preferred shares.

The shares were sold at $25 each for gross proceeds of approximately $3.9 million and net proceeds of about $3.4 million.

H.C. Wainwright & Co. served as exclusive lead placement agent; Boenning & Scattergood Inc. was co-placement agent.