By Luke Kawa
Publication Date: 2025-11-17 00:44:00
Beyond Meat’s refinancing efforts that spurred meme stock rally now have shares down 67%
Well, with a bit of time and a lot of volatility, the dust is settling on how Beyond Meat’s refinancing efforts have gone.
This morning, management announced that its new 2030 notes could be converted at a price of about $1.7459, or around 85% above where shares are trading in the premarket in the midst of another big retreat.
The twists and turns that brought us here:
On September 29, the company announced its intention to replace $1.15 billion in convertible notes due in 2027 (with an interest rate of 0%) with a mix of stock and up to $202.5 million in new second lien convertible notes due in 2030 (with an interest rate of 7%). Prior to that, its stock closed at $2.85.
Shortly after management reached a deal with 97% of its 2027 noteholders in mid-October, Beyond Meat became a meme stock. Despite massive dilution that raised the company’s share count by more than 300% and made prior…
