(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.)
Lab testing says most creatine gummies barely contain creatine. Powders largely do. So are gummies…
A green tablet steals Bonnie’s attention and Jessie takes the hit. Meanwhile, an army of…
London (dpa) - Britpop legends Pulp have announced a documentary and concert film and an…
Los Angeles (dpa) - No film has ever spent so long on a streaming service's…
By Danielle Broadway EMERYVILLE, California, June 17 (Reuters) - For actor Joan Cusack, who voices…
LONDON, June 17 (Reuters) - British television presenter Jeremy Clarkson, best known for hosting the…