![]() Groups opposing plant-based meat have run attack ads in recent years hammering the company for the extensive processing that goes into its products, and the talking points have stuck around, continuing to circulate on the internet. He also pointed to what he says is a persistent narrative problem. In a conference call yesterday, Beyond Meat CEO Ethan Brown cited economic factors like inflation and high interest rates that have reduced customer appetites for expensive meat alternatives. Read more: A High Steaks Game: Can Beyond Save the Alt-Meat Industry? But that’s not as bad for companies like Beyond as another plausible interpretation: that the whole movement toward plant-based meat was nothing but a fad to begin with. Those sales numbers would seem to indicate that in a challenging economy for spenders, products meant to address concerns about animal welfare and planet-warming emissions just can’t compete if they’re straining consumers’ pocketbooks. That bad news had an immediate effect on the company’s stock price, with Beyond Meat stock sliding almost 20% since Monday afternoon. ![]() The company also scaled back its revenue outlook and warned that may face delays in reaching its goal of becoming cash flow positive in the second half of the year. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.Beyond Meat, once the highflying harbinger of a plant-based meat revolution, took another beating on Wall Street this week, the latest setback for the one-time investor darling amid months of tough financial news.ĭespite recent efforts to cut prices, the company’s revenue fell more than 30% in the second quarter this year, according to its most recent financial report, released Aug. Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, NY 10010, or by telephone at +1 (800) 221-1037, or by email at registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on May 1, 2019.Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 86, or by email at and LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at J.P. Copies of the final prospectus relating to this offering may be obtained from any of the following sources: The offering is being made only by means of a prospectus. BofA Merrill Lynch and Jefferies are also acting as book-running managers, and William Blair is acting as co-manager for the offering. Morgan and Credit Suisse are serving as lead book-running managers for the offering. The shares are expected to begin trading on the Nasdaq Global Select Market on May 2, 2019, under the ticker symbol “BYND.” The offering is expected to close on May 6, 2019, subject to customary closing conditions. ![]() In addition, Beyond Meat has granted the underwriters a 30-day option to purchase up to 1,443,750 additional shares of common stock to cover over-allotments, if any, at the initial public offering price less underwriting discounts and commissions. (NASDAQ: BYND) (“Beyond Meat”), a leader in plant-based meat, today announced the pricing of its initial public offering of 9,625,000 shares of common stock at a price to the public of $25.00 per share. LOS ANGELES, (GLOBE NEWSWIRE) - Beyond Meat, Inc.
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