Me Today announces equity raising to accelerate growth

Me Today Limited (Me Today) has today announced its intention to raise up to $4.5 million through an issue of new ordinary Me Today shares (New Shares). The capital raising comprises a retail offer to selected investors of up to $3 million, with potential to accept over subscriptions of $1 million (Retail Offer) and a share purchase plan targeting $250,000 to eligible existing shareholders, with potential to accept up to $250,000 of over subscriptions (SPP) (together the Offer). The Offer price of 9.5 cents per New Share is a 26.4% discount to the closing price of Me Today's shares on the NZX on 7 July 2020 and a 28.1% discount to the 10 day VWAP to 7 July 2020. Chairman, Grant Baker said "Me Today's unique cross category offering is well positioned to gain market share in the growing and attractive health and wellness space. Me Today continues to invest in developing its range of complementary products, with an additional 9 supplement products launched or to be launched over the June to September period, along with the launch of new Serum and Sunscreen ranges planned for later in the year. The recent announcement of NZ rugby star Beauden Barrett as a global ambassador of Me Today has further raised the brand's profile, which will continue to be built on through investment in digital and social marketing campaigns." Me Today is targeting run rate gross revenue by the end of FY21 in excess of NZ$2.0m, and growth in store presence from ~200 to ~280. If the Offer is fully subscribed (but excluding over subscriptions), Me Today would expect to have approximately $6.45m of cash on hand and no debt following completion of the Offer, enabling additional investment in the business to accelerate Me Today's growth. Retail Offer The Retail Offer is being made to selected investors while Me Today's shares are in a trading halt, which is expected to remain in place until the NZX opens on Friday 10 July 2020. If fully subscribed (including over subscriptions), the Retail Offer will raise $4m, and result in the issue of 42,105,263 million New Shares, representing 11.54% of Me Today's existing ordinary shares on issue before the Retail Offer. Settlement of the Retail Offer is scheduled to take place on Friday, 10 July 2020, with commencement of trading of new shares on the NZX on the same day. SPP The SPP will be open to existing shareholders recorded in Me Today's share register as having a New Zealand address at 5.00pm on 7 July 2020. Eligible shareholders will be able to apply for up to $50,000 of New Shares. The SPP is targeting a raise of up to $250,000, but Me Today may accept over subscriptions of up to $250,000. The SPP offer price will be 9.5 cents per New Share. Personalised SPP offer letters will be sent by Link on Monday, 13 July 2020. For more information on the content of this announcement, please contact: Michael Kerr Chief Executive Officer Me Today Limited Contact: +64 21 836 451 Stephen Sinclair Chief Financial Officer Me Today Limited Contact: +64 21 330 053 End CA:00355903 For:MEE Type:OFFER Time:2020-07-08 08:30:52