Mobile-health Network Solutions Announces Closing of Initial Public Offering

SINGAPORE, April 12, 2024 (GLOBE NEWSWIRE) -- Mobile-health Network Solutions (“MNDR” or “the Company”), a leading telehealth solutions provider in Singapore, today announced the closing of its previously announced initial public offering of an aggregate 2,250,000 Class A Ordinary Shares (“the Offering”) at a price of $4.00 per share (“the Offering Price”) to the public, for a total of US$9.0 million of gross proceeds to the Company, before deducting underwriting discounts and offering expenses.

The shares began trading on the NASDAQ Stock Market LLC on April 10, 2024, under the symbol "MNDR".  

Network 1 Financial Securities, Inc. (“Network 1”), a full-service broker/dealer, acted as the sole book-running manager for the Offering. Sidley Austin LLP, Rajah & Tann Singapore LLP, and Harney Westwood & Riegels Singapore LLP are acting as U.S., Singapore, and Cayman legal counsel to the Company, respectively, and Loeb & Loeb LLP is acting as U.S. legal counsel to Network 1 for the Offering.

The Offering is being conducted pursuant to the Company’s registration statement on Form F-1 (File No. 333-277254), as amended, previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 27, 2024. The Offering is being made only by means of a prospectus, forming part of the registration statement. Copies of the final prospectus related to the Offering may be obtained, when available, from Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, by phone at [phone] or by email at [e-mail]. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or 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.