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Medical Transcription Billing registers preferred share offering

Medical TranscriptionBilling Corp. has filed a preliminary prospectus supplement to sellup to 63,040 additional non-convertible 11% series A cumulative redeemable perpetualpreferred shares.

The shares were first sold to the public Nov. 4, 2015.

If the company sells all 63,040 shares at the offering priceof $25.00 per share, it will receive a maximum of $1.6 million in gross proceedsand approximately $1.4 million in net proceeds, after deducting the underwritingdiscount and estimated offering expenses. The proceeds will be used to fund acquisitionsand growth, as well as for working capital and other general corporate purposes.

Dividends on the shares are payable monthly on a cumulative basisfrom July 1, when, as and if declared by the company's board, at the rate of 11%per annum of the $25.00 per share liquidation preference, equivalent to $2.75 perannum per share. The shares are subject to optional redemption by the company afterNov. 4, 2020, and upon a change of control.

Boenning & Scattergood Inc. is acting as lead book-runningmanager for the offering. Chardan Capital Markets LLC is serving as financial adviserto the company.