US Stock Market Move | Debt-to-Equity Swap Dilutes Equity, Beyond Meat (BYND.US) falls over 47%
As of the time of this report, the stock has fallen more than 47%, closing at 1.055 USD.
On Monday, Beyond Meat (BYND.US) stock price plunged, as of writing, the stock fell over 47% to $1.055 per share. On the news front, the troubled plant-based protein producer previously mentioned that almost all creditors have accepted a debt exchange plan that will significantly dilute shareholder equity. The company stated that based on the latest results, it is expected to issue 316 million new shares. The plan was disclosed in September, aiming to reduce leverage and causing the stock price to plummet. According to previously filed documents, if all holders decide to convert their bonds, they will own 88% of the shares.
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