Beyond Meat announces final tender results, settlement for exchange offer

Beyond Meat (BYND) announced the final tender results of its previously announced exchange offer to exchange any and all of its 0% Convertible Senior Notes due 2027 for a pro rata portion of up to $202.5 million in aggregate principal amount of its new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and up to 326,190,370 shares of its common stock. As previously announced, as of 5:00 p.m., New York City time, on October 10, 2025, $1,114,603,000 in aggregate principal amount of Existing Convertible Notes was validly tendered in the Exchange Offer and not validly withdrawn and related consents to the Proposed Amendments were validly delivered and not validly withdrawn as of such time. Early settlement of Offered Securities in exchange for the Existing Convertible Notes validly tendered in the Exchange Offer and not validly withdrawn as of the Early Tender Date occurred on October 15, 2025, and the Company entered into a supplemental indenture eliminating substantially all of the restrictive covenants in the indenture governing the Existing Convertible Notes, as well as certain events of default and related provisions applicable to the Existing Convertible Notes. As of 5:00 p.m., New York City time, on October 28, 2025, based on information provided by MacKenzie Partners, Inc., which is acting as the exchange agent and information agent for the Exchange Offer, an additional $2,738,000 in aggregate principal amount of Existing Convertible Notes was validly tendered in the Exchange Offer and not validly withdrawn following the Early Tender Date and prior to the Expiration Deadline. As previously announced, holders of Existing Convertible Notes tendered following the Early Tender Date and prior to the Expiration Deadline are eligible to receive $170.8044 in aggregate principal amount of New Convertible Notes and 283.6438 New Shares for each $1,000 in aggregate principal amount of Existing Convertible Notes validly tendered. Settlement with respect to the Additional Tendered Notes is expected to occur on October 30, 2025, the second business day immediately following the Expiration Deadline.