Me Today signals capital raise and provides trading update

ME TODAY ANNOUNCES PLANS FOR $2.6M PARTIALLY UNDERWRITTEN ONE FOR ONE RIGHTS ISSUE AT AN ISSUE PRICE OF 6 CENTS PER NEW SHARE.

FOLLOWING THE RIGHTS ISSUE THE COMPANY INTENDS TO ISSUE A 6-CENT WARRANT ISSUED ON A ONE FOR TWO BASIS EXERCISABLE IN OCTOBER 2026.

FOUNDING SHAREHOLDERS GRANT BAKER AND STEPHEN SINCLAIR HAVE AGREED TO UNDERWRITE THE RIGHTS ISSUE TO $1.5M.

ME TODAY GROSS BRANDED SALES AND AGENCY REVENUE GREW 42% FROM $4.07M IN FY24 TO $5.8M FOR THE YEAR ENDED 30 JUNE 2025.

Me Today Limited (NZX: MEE) announces today that it plans to undertake a capital raise to fund ongoing growth of the Me Today business.

Now that the group has discontinued involvement in the King Honey business it can focus on the Me Today brand and the opportunity of continuing to grow the brand domestically in New Zealand and in targeted international markets.

CAPITAL RAISE DETAILS

The capital raise is intended to be completed through a one for one rights issue under which eligible shareholders will be able to subscribe for shares at 6 cents per share. The proposed issue price is a discount of 22% on the current 60-day volume weighted average price. Depending on the level of uptake by shareholders the rights issue could raise up to $2.6m.

Founding shareholders Grant Baker and Stephen Sinclair have agreed to partially underwrite the raise to $1.5m, subject to shareholder approval at a meeting intended to be held in early October.

Following the issue of shares in the rights issue, the company intends to issue one warrant for every two shares held. The warrants would provide the holder an option to subscribe for one ordinary share at 6 cents per share in an exercise window from 1 October to 31 October 2026.

Further details of the capital raising and timetable will be advised in due course.

ME TODAY TRADING UPDATE AND USE OF CAPITAL RAISE FUNDS

The group continues to focus on growing revenue and reducing costs while continuing to invest in the Me Today brand.

The FY25 results are currently being finalised, and the fully audited financial statements will be released to the NZX on or before 29 August 2025.

The revenue for the Me Today brand and agency business in FY25 has reflected the growth strategy being implemented with full year gross revenue of $5.8m, before the costs of marketing services provided by a customer which is growth of 42% on revenue of $4.07m in 2024.

The EBITDA result for the group is still being finalized, and will be impacted by the King Honey business for the full reporting year given that business was placed into receivership after balance date. A full explanation of the results will be provided with the year-end announcement next week.

The performance of the Me Today brand in New Zealand continues to grow with increased brand presence through marketing activity above the line and expanded shelf presence within the New Zealand pharmacy channel. The business expects this growth in New Zealand to continue in 2026 through its retail partnerships and the continued investment in brand and new product development. The brand will roll out new product into store in New Zealand during October this year and then further product launches in the first half of the 2026 calendar year.

Outside of New Zealand the brand continues a targeted strategy with the Chinese partnership being the biggest opportunity. Other priority markets include the USA, Japan, UAE and Ireland.

The capital raised through the rights issue will be used to enable continued investment in the Me Today brand, to take advantage of sales and brand opportunities in New Zealand and International markets, to continue to invest in research and new product development and to fund the working capital needs of the Me Today brand.

The company expects to write to shareholders with further information about the capital raise in the notice of the meeting to be distributed in mid-September.
For further information, please contact:

Grant Baker
Chairman, Me Today Limited
021 729 800

Stephen Sinclair
CEO, Me Today Limited
021 330 053
[email protected]

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Announcement PDF