Me Today MEE

[whatsup]

Will be interesting to see how many investors take up their rights. A very high chance will be trading below 1 cent soon once the millions of rights are issued. I wonder if Jarvis regrets not selling the stock to Comvita. Notice he is not listed as participating in rights offer.

No wonder, I heard that he had tried to flog that business without any luck and would iMHO be thankful that MEE bought it , its not a good look for all S Hers !!

[whatsup]

So who took up their new shares?

[SailorRob]

Looking at this from both sides. It looks like a drop below 1 is certainly possible. A 20 mil mkt cap ( incl cap raise) based on current results and current environment this wouldn't surprise me.
The honey purchase was an absolute stuff up. They were meant to be buying a company that had already decent profits which would help grow the companies margins quicker. I also am a bit confused around their whole pricing strategy. Having your items constantly on discount is never a good look. Also going into supermarkets was interesting as i for one didn't see that being a POS for the brand.
That aside if the ME Today side of products can continue to sell in new countries and sign larger distribution chain deals then revenue should continue to creep up. This does seem to be gathering steam.
I don't ever see this going to 1 dollar. 40-50c would be a great result for shareholders. Will be watching this for reentry under 1 cent if arises. All imo.

A 4000% to 5000% return from here would be a great result for shareholders.

Yes it would...

[Sideshow Bob]

Me Today completes Rights Issue - NZX, New Zealand’s Exchange

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.

[whatsup]

Me Today completes Rights Issue - NZX, New Zealand’s Exchange

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.

Well the support from current S Hers is a big surprise, the heads have to support the C R or write off their investment.

Q now is where to from here , can the honey business be rescued or is it toast and what future does the rats and mice have ?

[silu]

So who took up their new shares?

I only had to send them $200 as I have gambling money in them so yeah I did.

[whatsup]

IMHO 326,000,000 shares need a home if the $10 mil is to be raised, Hmmmmmmm !

[Averagetrader1]

It doesn't take much to know the only shares being traded are from sharesies type traders. From a risk reward perspective I think current prices are worth a punt for sure

[Sideshow Bob]

Some, but not all....

Me Today completes Shortfall Placement - NZX, New Zealand’s Exchange

[Averagetrader1]

Not surprising. Cap raise off more negative news plus a bearish market