MeetMe Will Offer Shares In Underwritten Public Offering


Following another impressive set of financial results and news of a second massive acquisition, MeetMe has announced plans to offer shares of its common stock in an underwritten public offering.

The public dating company expects to grant the underwriters an option to buy an additional 15% of shares offered in the public offering, to cover overallotments.

Canaccord Genuity Inc. and Roth Capital Partners are acting as book-running managers for the offering, with Northland Securities, Inc. serving as co-manager.

The decision comes after MeetMe announced the acquisition of if(we) for $60m earlier this week.

MeetMe is funding the acquisition with a $30m loan from J.P. Morgan Chase, along with “cash on hand and cash from operations”.

In a press release, the San Francisco company said this latest underwritten public offering would also help to fund a portion of the pending acquisition, as well as “potential future acquisitions”.

The if(we) acquisition is expected to put MeetMe’s annualised revenues on track to hit over $150m, and help its MAU figure increase to 10.6m.

Read more about the acquisition here.

Simon Edmunds

Simon is the former editor of Global Dating Insights. Born in Newcastle, he has an English degree from Queen Mary, London and after working for the NHS, trained as a journalist with the Press Association. Passionate about music, journalism and Newcastle United.

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