Mobile-health Network Solutions Announces Updated MOU for Acquisition of Malaysian AI Data Centers

Mobile-health Network Solutions (NASDAQ: MNDR) announced an updated Strategic Cooperation MOU dated March 15, 2026 to acquire 100% of PP GRID SDN.

Rhea-AI Summary

Mobile-health Network Solutions (NASDAQ: MNDR) announced an updated Strategic Cooperation MOU dated March 15, 2026 to acquire 100% of PP GRID SDN. BHD. (PPG) and its AI data center assets in Sarawak, Malaysia.

Key terms: a MYR500 million (≈US$127 million) capital injection by PPG shareholder Mr. Ling for construction, Mr. Ling to receive a 65% equity stake in MNDR, MNDR founders to retain majority voting control via Class B shares, and MNDR to raise at least US$100 million to fund development. The MOU is non-binding and conditioned on valuation, due diligence, regulatory approvals, and a definitive SPA.

Positive

• MYR500M capital injection committed for data center construction
• Acquisition adds high-density AI data center assets in Sarawak
• Planned independent valuation to confirm share allocation
• MNDR to raise at least US$100M to fund development

Negative

• Mr. Ling to receive 65% equity, creating significant economic dilution
• Transaction is non-binding and subject to due diligence and approvals
• Completion depends on PPG securing licenses, permits, and land rights

Argus Mar 20 session

+25.74% close to close Open Argus

Details

News Market Reaction – MNDR

In the Mar 20 session, MNDR gained 25.74%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +25.7% in the session following this news. A strong positive reaction would have al...

Analysis

The stock surged +25.7% in the session following this news. A strong positive reaction would have aligned with earlier enthusiasm seen around the original Malaysian AI data-centre MOU, which moved 56.25%. Investors would likely have focused on the MYR500 million capital injection, access to high-density compute, and alignment with recent AI platform initiatives. However, the sizeable 65% equity stake for the PPG shareholder and the need to raise at least US$100 million could still have represented overhang risks for future dilution and execution.

Key Figures

Capital injection: MYR500 million (about US$127 million) Equity stake to PPG owner: 65% of MNDR equity MNDR capital raise target: At least US$100 million +5 more

Capital injection

MYR500 million (about US$127 million)

To fund Malaysian AI data center construction under updated Strategic MOU

Equity stake to PPG owner

65% of MNDR equity

Consideration for 100% of PPG and MYR500M capital injection

MNDR capital raise target

At least US$100 million

Planned independent financing for future data center development

SPA consideration

US$1,500,000

Definitive Sale and Purchase Agreement to acquire all PPG shares

First data center size

25MW AI-optimized facility

Planned Malaysian data centre capacity cited in prior MOU and 6-K

Registered resale shares

7,969,079 Class A shares

Form F-1 resale registration under standby equity purchase agreement

SEPA commitment

$10.0 million

Standby equity purchase agreement commitment amount (36-month term)

Equity plan issuance cap

15% of total shares per year

Maximum Class A and B shares issuable annually under 2026 plan

Historical Context

5 past events · Latest: Mar 12

5 events

1. Mar 12

   Earnings/margins update

   24h Move

   -4.3%

   Reported higher gross margin, lower operating expenses, and narrower net loss.

2. Mar 06

   AI partnership MOU

   24h Move

   -0.1%

   Signed MOU with Medpod to integrate AI platform with telediagnostics network.

3. Feb 10

   AI product launch

   24h Move

   -5.0%

   Launched Otter.SG AI-powered clinic operating system with global SaaS rollout.

4. Nov 21

   AI data-center MOU

   24h Move

   +56.3%

   Announced binding MOU for two Malaysian AI-optimized data centers with PPG.

5. Nov 17

   Insider share purchase

   24h Move

   -5.2%

   Co-CEO increased equity stake through open-market Class A share purchases.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

strategic cooperation memorandum of understanding, token as a service (taas), healthcare platform as a service (apaas), sale and purchase agreement (spa), +1 more

5 terms

strategic cooperation memorandum of understanding regulatory

"today announced the signing of a Strategic Cooperation Memorandum of Understanding"

A strategic cooperation memorandum of understanding is a written, usually non-binding agreement where two or more organizations outline their intention to work together on long-term goals, such as joint projects, technology sharing, or market expansion. Think of it as a roadmap or handshake that describes who will do what and why, but does not legally finalize the deal; for investors it flags potential future revenue, cost savings, or strategic shifts while also carrying uncertainty until formal contracts or results follow.

token as a service (taas) technical

"launching new services like Token as a Service (TaaS) and Healthcare Platform"

Token as a Service (TaaS) is a commercial offering that helps organizations create, launch and manage digital tokens or other blockchain-based assets without building the technical systems themselves. For investors, TaaS can speed time-to-market and lower upfront costs—like renting a fully equipped kitchen instead of building one—but also shifts operational, security and legal risk to the service provider, so the provider’s reliability, fees and compliance practices directly affect potential returns.

healthcare platform as a service (apaas) technical

"and Healthcare Platform as a Service (APaaS)."Mr. Ling added,"

A healthcare platform as a service (aPaaS) is a cloud-based foundation that provides ready-made, secure tools and services—such as data storage, user authentication, interoperability, and compliance features—that developers and health organizations use to build and run medical apps and workflows. For investors, aPaaS products matter because they can create steady subscription revenue, speed product launches, reduce costly custom IT work, and generate data network effects that scale across hospitals, insurers and vendors.

sale and purchase agreement (spa) regulatory

"they led directly to the definitive Sale and Purchase Agreement (SPA) executed"

A sale and purchase agreement (SPA) is a legally binding contract that sets the exact terms for buying or selling a company's shares or assets, including the price, what is being transferred, each party’s promises about the state of those assets, and the steps required to close the deal—think of it as a detailed recipe and checklist for a sale. Investors pay attention because the SPA fixes the deal’s value, timelines, protections against surprises, and any penalties if the deal falls apart, all of which can change expected returns and company risk.

class b shares financial

"The existing MNDR founders will retain majority voting control through their Class B shares."

Class B shares are one type of a company’s stock that carries a specific set of rights — often different voting power or dividend rules compared with other classes. For investors, that affects influence over company decisions and potential income: owning Class B might mean fewer or more votes per share or different claim on profits, like having a different seat at a decision table or a different slice of the payout pie.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ: MNDR) ("MNDR" or the "Company"), a leading AI HealthTech platform today announced the signing of a Strategic Cooperation Memorandum of Understanding ("Strategic MOU") dated March 15, 2026. This agreement updates the framework established on November 19, 2025, for the acquisition of PP GRID SDN. BHD. ("PPG") and its development of high-density artificial intelligence (AI) data centers in Sarawak, Malaysia.

According to the updated Strategic Cooperation MOU, signed on March 15, 2026, with PPG's sole shareholder, Mr. Dato' Ling Tiung Leng (Stanley Ling), MNDR will acquire 100 percent of PPG, including all AI data center assets, from Mr. Ling. In connection with this acquisition, Mr. Ling will facilitate a capital injection of MYR500 million (about US$127 million) to be utilized for the construction of these data centers.

In exchange for the PPG assets and the MYR500 million capital injection, Mr. Ling shall receive a 65 percent equity stake in MNDR.

The existing MNDR founders will retain majority voting control through their Class B shares.

As part of the transaction, MNDR will independently raise at least US$100 million to finance the future data center development and add value to the merger.

The Strategic Cooperation MOU is non-binding and subject to definitive agreement.

This Strategic Cooperation MOU served as the critical update to reflect current restructuring and funding needs. While the MOUs established the "ProjectCo" framework and broad equity swap terms, they led directly to the definitive Sale and Purchase Agreement (SPA) executed on March 16, 2026.

"This updated MOU framework better positions MNDR to secure critical AI computing capacity," said Mobile-health Network Solutions Co-CEO Dr. Siaw Tung Yeng. "We believe this acquisition will provide the linchpin for our global expansion, allowing us to reduce long-term costs for our AI-powered health ecosystem while launching new services like Token as a Service (TaaS) and Healthcare Platform as a Service (APaaS)."

Mr. Ling added, "This revised agreement advances our shared vision to scale AI data center capacity across our region. By contributing these assets to a consolidated platform with MNDR, we can accelerate development timelines and attract the institutional capital necessary for high-density compute expansion."

As stipulated in the original MOU signed last November, PPG remains responsible for securing all licenses, permits, approvals, and land rights necessary to construct and operate the data centers and related infrastructure, with MNDR retaining majority voting control post-transaction.

The updated MOU is subject to customary conditions precedent, including an independent valuation by a mutually agreed valuer to confirm the appropriateness of the share allocation. Completion is also subject to satisfactory legal and financial due diligence, regulatory approvals, and the execution of a Definitive Share Purchase Agreement (SPA).

About Mobile-health Network Solutions

Mobile-health Network Solutions is a leading AI-powered digital health platform headquartered in Singapore, with operations across Southeast Asia and expanding into the US. The company provides telemedicine, AI-driven health tools, and virtual clinic infrastructure to empower patients and doctors worldwide. Its mission is to make healthcare accessible, intelligent, and human - through technology. For more information, please visit our website.

Forward-Looking Statements

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to financial and business prospects, anticipated benefits of the Company's transition to an asset-light platform, the Company's goals and future activity, including continued development of proprietary technologies, strategic partnerships, and its capital initiatives. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to execute our strategies, manage growth and maintain our corporate culture; the Company's future business development, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise, except as required by law.

For media inquiries, please contact:

Mobile-health Network Solutions Investor Relations Contact:

2 Venture Drive, #07-08 Vision Exchange
Singapore 608526
(+65) 6222 5223
Email: investors@manadr.com

Investor Relations Inquiries:

Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5^th Floor
New York, New York 10036
Office: (646) 893-5835
Email: ir@skylineccg.com

Gushengtang Investor Relations Contact:

Units 01-04, 36 Floor, Lifeng Centre, No. 761 Dongfeng East Road,
Yuexiu District, Guangzhou, PRC
E-mail: ir@360gst.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289402

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the March 15, 2026 MOU mean for MNDR (NASDAQ: MNDR) shareholders?

It proposes MNDR's acquisition of PPG and a large equity swap granting Mr. Ling 65% economic ownership. According to the company, the deal includes a MYR500 million capital injection and requires definitive agreements, valuation, due diligence, and approvals.

How much capital will be available for the Sarawak AI data centers under the MNDR MOU?

The updated MOU contemplates MYR500 million (about US$127 million) from Mr. Ling and MNDR raising at least US$100 million. According to the company, those funds are intended for construction and further development financing.

Will MNDR founders keep control after the proposed PPG acquisition?

Yes, MNDR founders will retain majority voting control via Class B shares despite the 65% equity allocation to Mr. Ling. According to the company, voting control remains with existing founders post-transaction.

Is the MNDR–PPG agreement legally binding as of March 20, 2026?

No, the Strategic Cooperation MOU is non-binding and contingent on conditions precedent. According to the company, completion requires independent valuation, satisfactory legal and financial due diligence, regulatory approvals, and a definitive SPA.

What are the main risks that could prevent the MNDR acquisition of PPG closing?

Primary risks include an independent valuation altering share terms, failed due diligence, regulatory denial, or PPG failing to secure permits and land rights. According to the company, these are customary conditions precedent to closing.

How will the proposed deal affect MNDR's plans for new services like TaaS and APaaS?

The company says the acquisition is intended to provide AI computing capacity to support services such as Token as a Service and Healthcare Platform as a Service. According to the company, increased compute aims to lower long-term costs and accelerate launch.