MeetMe -12.6% due to $10M stock offering


MeetMe (NASDAQ:MEET) is selling 5M shares at $2 apiece - a 13% discount to Tuesday's close. Underwriters have a 750K-share overallotment option.

The company only says it plans to use the proceeds for "general working capital purposes."

MeetMe had $5.8M in cash as of March 31, and $5.4M in debt.

Comments (6)
  • D-struction
    , contributor
    Comments (165) | Send Message
     
    BUY BUY BUY
    23 Jul 2014, 09:28 AM Reply Like
  • curious T
    , contributor
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    Why? Does it not mean they have a cash flow problem?
    23 Jul 2014, 04:23 PM Reply Like
  • PovLis
    , contributor
    Comments (242) | Send Message
     
    I wouldn't buy above $2, wait for $1.80. Been there done it.
    23 Jul 2014, 05:51 PM Reply Like
  • D-struction
    , contributor
    Comments (165) | Send Message
     
    No, it just means they need cash for expansion. It's a good thing.
    23 Jul 2014, 07:21 PM Reply Like
  • curious T
    , contributor
    Comments (3) | Send Message
     
    Okay thank you. What's strange for me is that if I am in a solid company, with good results and about to beat the market estimates in 2 weeks. I would have waited for those 2 weeks, given my results and then put up the extra stock for sale, to have more cash per share. Or have I missed something?
    24 Jul 2014, 03:57 AM Reply Like
  • curious T
    , contributor
    Comments (3) | Send Message
     
    Okay thank you. What's strange for me is that if I am in a solid company, with good results and about to beat the market estimates in 2 weeks. I would have waited for those 2 weeks, given my results and then put up the extra stock for sale, to have more cash per share. Or have I missed something?
    24 Jul 2014, 03:57 AM Reply Like
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