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Shares in the telemedicine provider Mobile-health Network Solutions (NASDAQ:MNDR) rose 90% in early afternoon trading on Wednesday after a $9 million IPO priced at the low end of the aforementioned range.
Mobile Health shares opened at $4.79 after pricing at $4 and later peaked at $8.79. The stock recently sold for $7.60 around 12:40 p.m. ET.
The Singapore-based company priced 2.25 million common shares at $4 per share. The underwriters have been granted a 45-day option to purchase up to 337,500 additional shares. Network 1 acts as sole bookrunner.
In a filing in late March, Mobile-health said it was considering offering 2.25 million shares of common stock at a price between $4 and $5. The selling shareholders wanted to offer 2.58 million shares in the same area.
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