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- CareCloud (NASDAQ:MTBC) has launched a $25M underwritten public offering of its non-convertible Series B Cumulative Redeemable Perpetual Preferred Stock with liquidation preference of $25.00 per share.
- Underwriters may be granted a 30-day option to purchase up to an additional 15% of the Series B Preferred Stock offered in the public offering.
- Net proceeds from the offering, if completed, will be used for redemption of a portion of its 11% Series A Cumulative Redeemable Perpetual Preferred Stock, with up to $7.5M of net proceeds reserved for working capital, general corporate purposes and growth initiatives, including potential future acquisitions.
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