(Reuters News) -Shares of Beyond Meat tumbled more than 60% on Monday after the plant-based meat maker announced an early settlement of an exchange offer for convertible bonds as it seeks to reduce debt following years of struggling sales. Nearly 97% of its bondholders agreed to swap their old debt for new notes and shares, the company said in a filing on Monday. It will issue new debt and stock to settle the deal early, aiming to reduce its financial burden. Beyond Meat had launched an exchange offer for convertible bonds in September to cut more than $800 million in debt. According to its latest annual filing, the company had about $1.3 billion in debt, as of December 31, 2024. (Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
55 से अधिक शहरों और दो देशों के प्रतिनिधियों ने बढ़ाई आयोजन की गरिमा, 100…
सूरत (गुजरात) [भारत],22 जुलाई: 15,000+ सफल Knee Replacement Procedures का अनुभव और Patient-Centric Treatment के…
सूरत (गुजरात) [भारत], 20 जुलाई: सात जुलाई को सूरत में हुई मूसलाधार बारिश और खाड़ी…
55 से अधिक शहरों और दो देशों के प्रतिनिधियों ने बढ़ाई आयोजन की गरिमा, 100…
London (PA Media/dpa) - Persistent money troubles have been linked to faster brain ageing in a…
London (dpa) - Vegetarian and vegan versions of dairy and meat have been given increasing prominence…