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Wednesday, July 23, 2014 11:32:43 AM
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
bharney@mtbc.com
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.
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