trending Market Intelligence /marketintelligence/en/news-insights/trending/kfQtkxECem8aTP_z1WxIgQ2 content esgSubNav
In This List

Medical Transcription Billing offering preferred shares

Blog

Fintech Intelligence Digital Newsletter: May 2021

Podcast

Street Talk Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Street Talk – Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Fintech Intelligence Digital Newsletter: April 2021


Medical Transcription Billing offering preferred shares

Medical Transcription Billing has filed a preliminary prospectus to sell up to 340,000 of its 11% series A cumulative redeemable perpetual preferred shares at $25.00 per share.

The company estimates that it will receive about $7.5 million in net proceeds, after deducting estimated placement agent fees and expenses. Medical Transcription Billing plans to use a portion of the net proceeds to repay a portion of its outstanding balance due to Opus Bank and use the remaining net proceeds to fund growth initiatives and for working capital and general corporate purposes.

Beginning Nov. 4, 2020, the company can redeem the series A preferred shares, in whole or in part, at a cash price of $25.00 per share, plus all accrued and unpaid dividends to, but not including, the redemption date. The series A preferred shares have no stated maturity.

Rodman & Renshaw is acting as exclusive lead placement agent and Boenning & Scattergood Inc. is the co-placement agent of the offering.