Woolworths (ASX:WOW) converts Marley Spoon (ASX:MMM) bonds

Company News

by Kathy Skantzos

Woolworths (ASX:WOW) announced its venture capital arm, W23, has converted its $2.95 million convertible bond into 5.9 million CHESS depository interests in meal box delivery company Marley Spoon (ASX:MMM).

W23 continues to hold $27 million in Marley Spoon secured convertible bonds.

Woolworths and Marley Spoon are in a five-year partnership alliance which was entered into in June 2019.

The supermarket giant took a 9 per cent stake in Marley Spoon (ASX:MMM) in an investment worth $30 million in 2019.

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Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.