Mobile-health buys 19% stake in Singapore clinic
Mobile-health Network Solutions agreed to acquire ordinary shares representing 19% of the issued and paid-up share capital of Jurong Day & Night Clinic Pte.
Rhea-AI Filing Summary
Mobile-health Network Solutions agreed to acquire ordinary shares representing 19% of the issued and paid-up share capital of Jurong Day & Night Clinic Pte. Ltd. (JDNC), a licensed medical clinic in Singapore. The US$256,500 purchase price will be paid entirely in 186,410 new ordinary shares of Mobile-health issued to the seller, Ms. Ting Shih King.
The consideration shares will be issued in a private placement under Section 4(a)(2) of the Securities Act and/or Regulation S, will be restricted securities under Rule 144, and will be subject to a nine-month lock-up. The seller will retain the remaining 81% of JDNC and full operating control, and Mobile-health will not obtain board seats, observer rights, or voting control over JDNC’s board.
The agreement includes a twelve-month performance period, during which Mobile-health’s operating system must be integrated at JDNC within nine monthstwo years of closing, repurchase the 19% stake by returning the same number of consideration shares, which Mobile-health would cancel or hold in treasury. Closing is subject to customary conditions, including satisfactory due diligence, corporate and Singapore healthcare regulatory approvals, and submission of a Nasdaq Listing of Additional Shares notification at least 15 calendar days before issuing the shares.
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Key Figures
Key Terms
restricted securities regulatory
Regulation S regulatory
Rule 144 regulatory
lock-up financial
treasury financial
FAQ
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What stake in Jurong Day & Night Clinic is MNDR acquiring?
How is Mobile-health (MNDR) paying for the JDNC stake?
Does Mobile-health (MNDR) gain control or board seats at JDNC?
What performance and repurchase terms are tied to MNDR’s JDNC investment?
What conditions must be met before MNDR’s JDNC deal can close?
AI-generated analysis. How Rhea-AI works. Not financial advice.