Research Reports

Key takeaways

Entered Supplemental Agreement to SPA on April 22, 2026, for additional 35MW data centre capacity transfer into PPG.

Additional purchase consideration of up to US$3,000,000, determined by independent valuation.

Transfer must occur by agreed long stop date; Supplemental Agreement effective only upon completion.

Original SPA dated March 16, 2026, for 100% of PPG from sole shareholder, subject to closing conditions.

Supplemental Agreement attached as Exhibit 10.1.

Full analysis

The Supplemental Agreement enhances the strategic acquisition of PP GRID SDN. BHD. by incorporating additional data centre capacity, potentially expanding the Company's infrastructure footprint. The 35MW transfer, contingent on timely completion, introduces up to US$3M in variable consideration based on independent valuation, aligning payment with delivered value. This amendment builds on the March 16 SPA for full ownership of PPG, maintaining customary closing conditions while signaling commitment to scaling data centre assets amid ongoing negotiations.

MNDR · Mobile-health Network Solutions Class A Ordinary Shares

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