Beyond Meat shares fall following report of restructuring talks with bondholders
By Adam L. Cataldo
Shares of Beyond Meat fell in post-market trading after the Wall Street Journal reported the company was engaged in talks with a group of bondholders about restructuring the company's balance sheet.
The stock (BYND) was down 15% after the close, and ended Wednesday's market trading session down 4.3% at $7.17. Shares are down 58% in the past 12 months.
Beyond Meat has seen its liquidity fall as it has burned through cash in recent quarters, and is speaking with a group of investors who have interests in the company's $1.1 billion of convertible notes, the Journal reported, citing people familiar with the matter.
The Los Angeles-based company offers plant-based meat substitutes.
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07-17-24 1734ET
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