Beyond Meat Implements Reverse Stock Split To Regain Nasdaq Compliance
(RTTNews) - Friday, Beyond Meat, Inc. (BYND) announced that it has filed a Certificate of Amendment to its Restated Certificate of Incorporation with the Delaware Secretary of State, formally implementing the previously announced 1-for-30 reverse stock split of its common stock, with a par value of $0.0001 per share.
The amendment also provides for a proportional reduction in the number of authorized shares of the company's common stock.
Under the reverse stock split, every 30 shares of the company's common stock issued and outstanding immediately prior to the effective time were automatically reclassified and combined into 1 share of common stock.
This move is expected to help the company to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market.
The reverse stock split and the reduction in authorized shares will take effect on August 13, 2026.
Upon the effectiveness of the reverse stock split, the conversion rates of the company's outstanding convertible notes, including the 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and the 0% Convertible Senior Notes due 2027, were proportionately adjusted to reflect the 1-for-30 reverse stock split ratio.
BYND closed trading at $0.4070, down 1.71 percent on the Nasdaq.
