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- Marley Spoon (MMM) taps investors for $57 million via a placement
- The company upscaled its original capital raise offering by $5 million on the back of strong support from investors
- Under the placement, Marley will issue approximately 33.65 million new no-par value registered shares at $1.70 apiece
- The funds raised will be used to support the company’s near-term growth and working capital needs
- Shares gains 15 per cent, trading at 11.5 cents at 3:15pm AEST
Marley Spoon SE (MMM) has completed a $57 million placement after upsizing its original offering.
Marley Spoon is a direct-to-consumer company which delivers meal-kits, allowing customers to decide what to eat, when to eat, and leave behind the hassle of grocery shopping.
The company received strong support from new and existing shareholders, which was indicated in its upsize of the placement by $5 million.
The company will issue approximately 33.65 million new no-par value registered shares at $1.70 apiece, representing a premium of 17 per cent to the CDI closing price of 14.5 cents on April 24, 2023.
The placement was also made up of a series of transactions involving renegotiation of debt terms and entry into a business combination agreement with a special purpose acquisition company, 468 SPAC II SE, which is listed on the Frankfurt Stock Exchange.
The funds raised under the placement will be used to support the company’s near-term growth and working capital needs.
MMM gained 15 per cent, trading at 11.5 cents at 3:15pm AEST.
