Copenhagen based Monsenso, a mHealth startup focused on treatment for mental illness, has filed for an IPO. Recently they announced the result of the of the new share offering in connection with the IPO on Nasdaq First North Growth Market Denmark.

Monsenso’s offer of DKK 16-20 million (€ 2-2.6 million) in new shares have been extremely well received by both professional and private investors, which together have subscribed for over DKK 47 million (over € 6.3 million), corresponding to the maximum offering being oversubscribed by 238%.

The subscription period closed on 29 May 2020. The company’s offering of up to 3,773,585 shares, at a price of DKK 5.30 per share has come to an end and will provide the company with gross proceeds of DKK 20 million and result in a market cap of DKK 70.04 million (€ 9.3 million)

“The IPO offering was very well received by professional and private investors, including the great participation in our online investor meetings. We have now received the necessary funding to strengthen our sales efforts, customer support and to further develop our mHealth solution for mental health. We now have to live up to the trust and expectations coming from our 2,219 new shareholders. We look forward to being a listed company and welcoming the continued support from our many new shareholders.” says CEO Thomas Lethenborg

The first trading day on Nasdaq First North Growth Market Denmark is expected to be on 10 June 2020. You can read more about the IPO here.