Maker of Scary Meat – ‘Beyond Meat’ – Trades for Under $1

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Fake food sellers Beyond Meat (NASDAQ: BYND) crashed the most on record. They had just announced that nearly all creditors agreed to a debt-swap deal that massively dilutes equity shareholders.

BYND wrote in a press release that 96.92% of holders of its 0% Convertible Senior Notes due 2027 agreed to participate in the debt-equity swap offer, clearing the 85% threshold required for the deal to proceed.

Beyond Meat Inc. completed an early settlement of its convertible debt exchange offer on Monday, swapping $1.114 billion in notes due 2027 for new secured notes due 2030 and 326 million new shares, which reduced debt by over $800 million but caused significant shareholder dilution.

The stock fell more than 56%, trading below $1 for the first time, amid high short interest over 63% of the float and debunked bankruptcy rumors. The company continues to face declining demand and competition in the plant-based meat sector.

It’s a junk bond.

It’s hard to believe there’s competition for this awful looking fake food.

$200 a share to.$.90:

Beyond Meat is taking the name meat out of Beyond Meat. Canadian cattle ranchers complained and want the name meat removed.

Beyond Burger is being discontinued.

Jan 27, 2020 Sunnyvale / CA / USA – Beyond Burger and Beyond Beef packages, all Beyond Meat products, available for purchase in a supermarket in San Francisco bay area

They can’t sell enough of their product to make a profit. The people have spoken.

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SimpleFacts
SimpleFacts
21 days ago

What a bunch of whiners. “It looks bad” “I tried it once, years ago” “It’s poison.” You’re as bad as liberals. For those of us with medical conditions, this is what we need. They are constantly improving the taste of their products and working hard to make it. If you don’t think it’s any good, stfu and don’t eat it.… Read more »

Ahtani
Ahtani
22 days ago

Those look like 80 year old schlongs.

Gila Bend Buck
Gila Bend Buck
22 days ago

I ate this once when it first came out. It cost 1.5x more then the ground beef, but tasted worse than those dog tacos I had at Rocky Point, MX.

86 the globalists
86 the globalists
22 days ago

I saw this Scary Meat in one of my local grocery stores. It was there for about a month. Nobody bought it so they pulled all of it out and I haven’t seen it since. I guess they threw it in the trash where it belongs.

The Prisoner
The Prisoner
22 days ago

I have only seen one person ever buy that product in the several years it has been out.

Taras Bulba
Taras Bulba
22 days ago

I hope the company files for bankruptcy! Trying to feed people this poisonous slop!