|By Business Wire
|July 23, 2014 09:17 AM EDT
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.
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
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