MeetMe Prices $10 Million Public Offering of Common Stock
July 23 2014 - 9:17AM
Business Wire
MeetMe, Inc. (NASDAQ: MEET), the public market leader for social
discovery, today announced that is has priced an underwritten
public offering of 5,000,000 shares of its common stock at an
offering price of $2.00 per share, for gross proceeds of
approximately $10,000,000. MeetMe has also granted the
underwriters a 30-day option to purchase up to an additional
750,000 shares of common stock to cover over allotments, if any.
The offering is expected to close on July 28, 2014, subject to
satisfaction of customary closing conditions.
MeetMe intends to use the net proceeds from the proposed
offering for general working capital purposes.
JMP Securities acted as the sole book-running manager and
Northland Capital Markets and Janney Montgomery Scott LLC served as
co-managers.
The offering is being made pursuant to an effective shelf
registration statement (333-19035) previously filed with
the Securities and Exchange Commission (SEC). A final
prospectus supplement and accompanying base prospectus describing
the terms of the offering will be filed with the SEC. Before
investing in MeetMe, you should read the prospectus supplement and
the accompanying prospectus, and other documents that MeetMe has
filed or will file with the SEC, for information about MeetMe
and this offering.
When available, copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained by
contacting JMP Securities LLC, 600 Montgomery Street, 10th
Floor, San Francisco, California 94111, Attention: Prospectus
Department, (415) 835-8985. The final prospectus supplement
and accompanying prospectus also will be available on
the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall
there be any sale of these securities, in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in
the US and the public market leader for social discovery (MEET).
MeetMe makes meeting new people fun through social games and apps,
monetized by both advertising and virtual currency. With
approximately 75 percent of traffic coming from mobile, MeetMe is
fast becoming the social gathering place for the mobile generation.
The company operates MeetMe.com and MeetMe apps on
iPhone, iPad, and Android in multiple languages including English,
Spanish, Portuguese, French, Italian, German, Chinese (Traditional
and Simplified), Russian, Japanese, Dutch, Turkish and Korean. For
more information, please visit meetmecorp.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 including statements regarding whether the
offering will close as anticipated and the proposed use of
proceeds. All statements other than statements of historical facts
contained herein, including statements regarding the continued
growth in our core platform, are forward-looking statements. The
words “believe,” “may,” “estimate,” “continue,” “anticipate,”
“intend,” “should,” “plan,” “could,” “target,” “potential,” “is
likely,” “expect” and similar expressions, as they relate to us,
are intended to identify forward-looking statements. We have based
these forward-looking statements largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy and financial needs. Further
information on our risk factors is contained in our filings with
the SEC, including the Form 10-K for the year ended December 31,
2013 and the Preliminary Prospectus Supplement (Rule 424(b)(2)) as
filed on July 22, 2014. Any forward-looking statement made by us
herein speaks only as of the date on which it is made. Factors or
events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Investor Contact:MKR Group Inc.Todd Kehrli,
323-468-2300meet@mkr-group.com
Meet (NASDAQ:MEET)
Historical Stock Chart
From Aug 2024 to Sep 2024
Meet (NASDAQ:MEET)
Historical Stock Chart
From Sep 2023 to Sep 2024