Marley Spoon AG (ASX:MMM) entered into an agreement to acquire Community Chef - Good Food For All C.I.C. for AUD 26.6 million on December 21, 2021. The consideration consists of AUD 21 million payable in three tranches in January 2022 (at closing of the transaction) and in September 2022 and May 2023 based on FY 2022 (ending 30/6) revenue. earn-outs of up to AUD 5.6 million over the next 2.5 years based on achievement of revenue targets in September 2022 and May 2023 based on FY 2022.

All payments to be paid in cash or scrip or a combination of both, at Marley Spoon's election to be determined prior to the relevant payment date. The acquisition is expected to close in January 2022 at which time the first payment tranche of AUD 10 million expected to be paid in cash. The transaction will be funding secured through a combination of an AUD 8 million equity placement expected to be completed in January 2022, and an AUD 11 million extension to the group's existing debt facility with Runway Growth Capital, at the same commercial terms, expected to occur in late December 2021.Earlier in September 2022, the Company paid €1.6m to the former Chefgood owners as part of its earnout payment obligations following the completion of the acquisition of the readyto-heat business in January 2022.