28th March 2024 King Honey / Me Today
Me Today has raised $3.1m from a rights issue, which closed last Friday 22 March.
Honey and VMS company Me Today has opened its $2.78m right issue which is intended to raise capital for brand investment and expansion into international markets.
Me Today shareholders are meeting in Auckland today to vote on resolutions related to restructuring the company’s funding facilities and a capital raise plan.
The company bought the mānuka honey exporter less than three years ago for $36m but it has failed to meet expectations.
The honey and VMS company is in talks with its lenders after warning that it is likely to undershoot its sales forecasts – with a capital raise and asset sales still on the table.
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