Monday 27th June 2022
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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.
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