Medical Transcription to price IPO of shares between $9.00 and $11.00

Funds used for debt repayment, working capital and corporate purposes

By Devika Patel

Knoxville, Tenn., June 16 – Medical Transcription Billing, Corp. will sell 3 million common shares in its initial public offering with a 30-day greenshoe of an additional 450,000 shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Dec. 20.

The shares will be sold at a price expected to fall between $9.00 and $11.00 per share.

Summer Street Research Partners is the bookrunner.

Proceeds will be used for debt repayment, working capital and other general corporate purposes.

The health care information technology company is based in Somerset, N.J. The company expects its shares will trade on the Nasdaq under the symbol “MTBC.”

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