Press Release: Beyond Meat(R) Announces Proposed Public Offering of Common Stock
4:26 pm ET July 29, 2019 (Dow Jones)
Beyond Meat(R) Announces Proposed Public Offering of Common Stock
EL SEGUNDO, Calif., July 29, 2019 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (" Beyond Meat"), a leader in plant-based meat, announced today the commencement of an underwritten public offering of 3,250,000 shares of common stock, consisting of 3,000,000 shares of common stock offered by certain selling stockholders of Beyond Meat (the "Selling Stockholders") and 250,000 shares of common stock offered by Beyond Meat. In addition, the Selling Stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 487,500 shares of common stock at the public offering price, less underwriting discounts and commissions. Beyond Meat will not receive any proceeds from the sale of common stock offered by the Selling Stockholders. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
Beyond Meat intends to use the net proceeds received by it from the offering (i) to continue to increase its production and supply capabilities, (ii) to pay for marketing and promotional activities, and (iii) for general working capital purposes.
Goldman Sachs & Co. LLC, J.P. Morgan and Credit Suisse are serving as lead book-running managers for the offering. BofA Merrill Lynch and Jefferies are also acting as book-running managers, and William Blair and Raymond James are acting as co-managers for the offering.
The offering is being made only by means of a prospectus. |
