Mobile-Health Network Solutions Inc. (NASDAQ:MNDR) shares surged 44.75% in after-hours trading on Tuesday, climbing to $2.75.
Check out the current price of MNDR stock here.
SEC Filing Announces Offering Expansion
The Singapore-based company submitted a filing on Monday with the Securities and Exchange Commission (SEC) to increase its at-the-market offering capacity to $2.26 million from $1.25 million.
Offering Details and Terms
Mobile-Health Network can sell Class A Ordinary Shares with maximum aggregate offering price of approximately $1 million through A.G.P./Alliance Global Partners under a sales agreement dated Jul. 15.
The sales agent receives 3% of gross proceeds.
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Since the previous prospectus dated Sep. 9, the company has sold $1.25 million of Class A Ordinary Shares under the sales agreement.
Public Float and Regulatory Limits
The company’s public float stood at $6.78 million as of Nov. 21, based on 1.42 shares held by non-affiliates at $4.75 per share.
Under Form F-3 General Instruction I.B.5, the company cannot sell securities exceeding one-third of public float in any 12-month period while public float remains below $75 million.
Recent Data Center Agreement
In November, Mobile-Health Network signed a memorandum of understanding (MOU) with cloud computing developer PPG PP GRID SDN. BHD. to build two AI data centers in Malaysia.
The agreement includes a 25MW site slated for completion in the third quarter of 2027 and a 150MW facility targeted for the end of 2028, with compensation valued at up to $120 million.
Stock Performance
The stock of the telehealth company has fallen 86.69% year to date.
MNDR has a 52-week range of $1.53 to $39.60 and a market capitalization of $2.33 million.
Price Action: Mobile-Health Network closed the regular session on Tuesday at $1.90, down 34.93%, according to Benzinga Pro data.
Benzinga Edge Stock Rankings indicate that MNDR stock has a negative price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
