Bondholders will receive up to 325 million shares of its common stock. "The early 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," Beyond Meat announced.
Today's premarket stock price jump follows a significant rally on Friday for Beyond Meat, the California-based producer of plant-based meat alternatives, whose shares closed up more than 24% to end the trading week at 64 cents per share, according to data from Yahoo Finance. The stock price surge, which is now in its second trading day, may come as a surprise to many, considering that Beyond Meat is experiencing significant financial woes as of late.