Bondholders will receive up to 325 million shares of its common stock. "The early tender results of its previously announced exchange offer to exchange any and all of its 0% Convertible Senior Notes due 2027, for a pro rata portion of up to $202.5 million in aggregate principal amount of its new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and up to 326,190,370 shares of its common stock," Beyond Meat announced.
In its earnings release, the company cited factors like "a sustained uncertain macroeconomic environment" stemming from "shifting tariffs,unclear impacts from changes to fiscal policy and political sentiment."
Gannett is executing $100 million in cost cuts, including closing print facilities and automating processes, to improve operational efficiency and adapt to revenue declines.