Beyond Meat drops 14.1% on debt-for-equity swap

Shares of Beyond Meat fell 14.1% on Wednesday afternoon after the company agreed to retire about $15.0 million in principal amount of its 0% convertible senior notes due 2027 in exchange for common stock. The privately negotiated agreements value the debt at 96% of face value.

Under the terms of the settlement, Beyond Meat will initially issue 1,097,444 shares. The final share count depends on a volume-weighted average price over the three trading days starting Wednesday, with a price floor of $7.4009. If that floor applies across all three days, the company may issue up to 848,265 additional shares around Sept. 28.

The drop outpaced the broader sector, as consumer staples declined 4.92% at the same open. Beyond Meat is down 62.2% since the start of the year. Trading at $10.00 per share, the stock stands 90.8% below its 52-week high of $108.60 reached in October 2025.