By Josh Beckerman
Singapore-based Mobile-health Network Solutions, which operates the MaNaDr telehealth platform, filed Thursday for an initial public offering.
The company expects to offer 2.25 million Class A shares at a price between $4 and $5 each. It applied for Nasdaq Capital Market listing under the symbol MNDR.
Mobile-health Network Solutions expects net proceeds of about $8.6 million, or about $10 million if the overallotment option is exercised in full.
The company expects to use about 30% of the proceeds for potential mergers and acquisitions although it has no acquisition commitments at this time. It intends use about 20% of its proceeds for product development, with the rest slated for general corporate purposes and expand the functionality and value of its core technology platform.
Write to Josh Beckerman at josh.beckerman@wsj.com
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