Beyond Meat launches exchange offer, consent solicitation to eliminate debt

Group 1 - Beyond Meat has initiated an exchange offer for its 0% Convertible Senior Notes due 2027, aiming to exchange them for up to $202.5 million in new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and up to 326,190,370 shares of common stock [1] - The exchange offer is part of Beyond Meat's strategy to strengthen its balance sheet, reduce leverage, and extend maturity, aligning with its long-term vision of becoming a leading global plant protein company [1] - The company is also seeking consents from holders of the existing convertible notes to adopt proposed amendments that would eliminate most restrictive covenants and certain events of default in the existing notes indenture [1]