other material
confidence high
sentiment negative
materiality 0.75
Beyond Meat stockholders approve 6x increase in authorized shares and reverse stock split authorization
BEYOND MEAT, INC.
- Stockholders approved charter amendment increasing authorized common shares from 500M to 3B to support New Notes conversions and equity plan.
- Approved series of 30 alternate amendments authorizing reverse stock split and proportionate reduction in authorized shares (board discretion).
- Voted to permit issuance of up to $215M in common shares upon conversion/equitization of 7% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030.
- Approved restated 2018 Equity Incentive Plan increasing shares authorized for issuance to key employees.