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Mobile-health Network Solutions (MNDR) announced an at-the-market equity offering to raise up to $300 million, according to a company statement. The Singapore-based digital health platform said the proceeds will fund development of medical language models, expansion of AI-driven teleconsultation services, and acquisition of pharmacy delivery infrastructure.
The company plans to focus expansion efforts primarily in Asia, targeting underserved regions with limited medical infrastructure. The offering aims to support development of large language models for medical case assessment and AI-assisted consultation services.
"This ATM offering is a pivotal step in realizing our vision of a truly scalable, technology-enabled healthcare ecosystem," said Co-CEO Dr. Siaw Tung Yeng. "By merging intelligent diagnostics with pharmacy delivery capabilities, we’re empowering communities that lack traditional medical infrastructure with access to vital health services."
Dr. Siaw indicated that unused proceeds may be invested in short-term, interest-bearing, investment-grade instruments. The company said specific terms and use-of-proceeds details will be provided in a prospectus supplement filed with the Securities and Exchange Commission.
A registration statement on Form F-3 relating to the securities has been filed with the SEC but has not yet become effective. The company stated that offers and sales will only be made pursuant to a prospectus and related prospectus supplement.
Mobile-health Network Solutions operates telemedicine and AI-driven health tools across Southeast Asia with expanding U.S. operations.