| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. |
The information set forth in Item 8.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
| Item 3.02 |
Unregistered Sales of Equity Securities. |
In connection with the Exchange Offer (as defined below), on October 30, 2025, in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) provided by Section 4(a)(2) thereof and Rule 506 of Regulation D promulgated thereunder, Beyond Meat, Inc. (the “Company”) issued 776,610 shares of its common stock and $459,000 in aggregate principal amount of New Convertible Notes (as defined below) to eligible holders of the Existing Convertible Notes (as defined below) accepted for exchange in the Exchange Offer.
The information set forth in the Item 8.01 of this Current Report on Form 8-K is incorporated into this Item 3.02 by reference.
| Item 7.01 |
Regulation FD Disclosure. |
On October 29, 2025, the Company issued a press release announcing the final tender results and final settlement of the Exchange Offer. The full text of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information contained or incorporated by reference in this Item 7.01, including the press release furnished herewith as Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any filing under the Securities Act, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such a filing.
As previously announced, on October 15, 2025, the Company completed the early settlement of the exchange of $1,114,603,000 in aggregate principal amount (the “Early Tendered Notes”) of its 0% Convertible Senior Notes due 2027 (the “Existing Convertible Notes”) that were validly tendered on or before the early tender deadline of 5:00 p.m., New York City time, on October 10, 2025 (the “Early Tender Date”) in the Company’s previously announced exchange offer (the “Exchange Offer”) to exchange any and all of the Existing Convertible Notes for a pro rata portion of up to $202.5 million in aggregate principal amount of newly issued 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (the “New Convertible Notes”) and up to 326,190,370 shares of the Company’s common stock (the “New Shares”).
This Current Report on Form 8-K reflects tenders and related exchange consideration settled in connection with the Exchange Offer on the Final Settlement Date, including one tender that was partially reflected in the information agent’s records at the time of the announcement of final results on October 29, 2025. In addition to the Early Tendered Notes, an additional $5,938,000 in aggregate principal amount of Existing Convertible Notes was validly tendered in the Exchange Offer and not validly withdrawn following the Early Tender Date in connection with the Exchange Offer (the “Additional Tendered Notes”). On October 30, 2025 (the “Final Settlement Date”), in connection with the final settlement of the Exchange Offer, the Additional Tendered Notes were validly tendered, accepted for exchange by the Company and subsequently cancelled. In connection with the final settlement of the Exchange Offer, on the Final Settlement Date, the Company issued (i) $1,004,000 in aggregate principal amount of New Convertible Notes and (ii) 1,684,270 New Shares, in exchange for the validly tendered and accepted Additional Tendered Notes.
Following the Final Settlement Date, a total of (i) $209,721,000 in aggregate principal amount of New Convertible Notes (inclusive of $12.5 million in aggregate principal amount of New Convertible Notes as payment to certain holders of Existing Convertible Notes that had entered into a transaction support agreement with the Company relating to the Exchange Offer) and (ii) 317,834,446 New Shares have been issued by the Company in connection with the Exchange Offer. The Additional Tendered Notes and the Early Tendered Notes together represent 97.44% of the aggregate outstanding principal amount of Existing Convertible Notes. Following such Final Settlement Date and the cancellation of the Additional Tendered Notes, $29,459,000 in aggregate principal amount of the Existing Convertible Notes remain outstanding.