Me Today completes Rights Issue

Auckland, New Zealand: Me Today Limited (NZX: MEE ) is pleased to announce that it has raised approximately $6.74m from the rights issue which closed on Thursday 23 June.

The funds were raised from largest shareholder MTL Securities Limited ($4.2m) together with $2.5m from over 300 existing shareholders. The raise was also well supported from the Me Today shareholder base within the Sharesies platform. The new shares arising from the rights issue will be allotted on 29 June 2022.

CEO Michael Kerr said "Me Today was pleased with the support received from existing shareholders. The $6.74m raised meets the immediate cashflow requirements of the group and will enable continued investment in the group's Supplement, Skincare and Manuka Honey brands."

Me Today Limited has engaged capital markets advisory firm CM Partners to complete a bookbuild relating to some or all of the $3.26m capital raising shortfall at the same price of 1 cent per share that applied to the Rights Issue. The bookbuild will be completed by this Friday the 1st of the July with the results announced to the market on Monday the 4th of July. The further funds will be applied to investment into international opportunities for the group.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Deferral of FDA consideration of enforcement discretion
MHJ - Response to ASX Query
CDI 2022 Interim Results
August 10th Morning Report
TWL - Resignation of Chief Operating Officer
NZA - Funding arrangements following Board changes
August 9th Morning Report
August 8th Morning Report
BIF - Potential material valuation increase for the fund
Nominations open for Fonterra Board of Directors' Election