Bookrunner JMP Securities helps fund general working capital purposes
By Devika Patel
Knoxville, Tenn., July 23 – MeetMe, Inc. said it priced a $10 million public sale of stock with a $1.5 million greenshoe. The deal was announced on Tuesday.
The company will sell 5 million common shares at $2.00 per share. The price per share is a 13.42% discount to the July 22 closing share price of $2.31.
JMP Securities is the bookrunning manager.
Settlement is expected on July 28.
Proceeds will be used for general working capital purposes.
The social network is based in New Hope, Pa.
| Issuer: | MeetMe, Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Greenshoe: | $1.5 million
|
| Shares: | 5 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Bookrunner: | JMP Securities
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| Co-managers: | Northland Capital Markets and Janney Montgomery Scott LLC
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| Announcement date: | July 22
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Stock symbol: | Nasdaq: MEET
|
| Stock price: | $2.31 at close July 22
|
| Market capitalization: | $80.32 million
|
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