Ann: WOW: Conversion of Bonds in Marley Spoon, page-4

Does anyone remember the terms of the original agreement between WOW and MMM off the top of their head, and know what price the conversion would happen at?

The conversion may not even lead to an increase in selling pressure, as Woolworths may be bullish about MMM, and may want to make the most of the anticipated increase in share price in the coming months. There has also been some speculation on AFR about Woolworths being interested in buying out MMM, and this conversion may help WOW increase their stake in the company.

While I think it's unlikely the WOW will acquire MMM, whether or not this is a positive sign or not will depend on whether WOW sell down the shares or not.