Beyond Meat® Announces “At The Market” (ATM) Equity Offering Program
May 10 2023 - 5:27PM
Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or the “Company”),
a leader in plant-based meat, today announced it has filed a
prospectus supplement with the U.S. Securities and Exchange
Commission (the “SEC”) under which it may offer and sell from time
to time and at its discretion shares of its common stock having an
aggregate offering price of up to $200.0 million pursuant to an “at
the market” offering program (the “ATM Program”). The Company
currently intends to use the net proceeds, if any, of sales of its
common stock issued under the ATM offering for general corporate
and working capital purposes. The timing of any sales and the
number of shares sold, if any, will depend on a variety of factors
to be determined by the Company.
The shares will be offered pursuant to an equity
distribution agreement between the Company and Goldman Sachs &
Co. LLC, as sales agent. Sales may be made by any method permitted
by law, including in sales deemed to be “at the market offerings”
as defined in Rule 415 of the Securities Act of 1933, as amended,
in ordinary brokers’ transactions, to or through a market maker, on
or through the Nasdaq Global Select Market or any other market
venue where the securities may be traded, in the over-the-counter
market, in privately negotiated transactions, or through a
combination of any such methods of sale. Sales may be made at
market prices prevailing at the time of the sale, at prices related
to prevailing market prices or at negotiated prices and, as a
result, sales prices may vary.
The prospectus supplement filed today adds to,
updates or otherwise changes information contained in the
accompanying prospectus contained in an automatically effective
shelf registration statement on Form S-3, also filed today, for the
offering of shares. Prospective investors should read the
prospectus in that registration statement and the prospectus
supplement (including the documents incorporated by reference
therein) for more complete information about Beyond Meat and the
ATM Program, including the risks associated with investing in
Beyond Meat. Copies of the prospectus supplement and related
prospectus may be obtained from Goldman Sachs & Co. LLC, Attn:
Prospectus Department, 200 West Street, New York, NY 10282 (Tel:
866-471-2526) or by e-mail at prospectus-ny@ny.email.gs.com. You
may also obtain these documents free of charge when they are
available by visiting EDGAR on the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor will 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.
About Beyond Meat
Beyond Meat, Inc. (NASDAQ: BYND) is a leading plant-based meat
company offering a portfolio of revolutionary plant-based meats
made from simple ingredients without GMOs, no added hormones or
antibiotics, and 0 mg of cholesterol per serving. Founded in 2009,
Beyond Meat products are designed to have the same taste and
texture as animal-based meat while being better for people and the
planet. Beyond Meat’s brand promise, Eat What You Love®, represents
a strong belief that there is a better way to feed our future and
that the positive choices we all make, no matter how small, can
have a great impact on our personal health and the health of our
planet. By shifting from animal-based meat to plant-based protein,
we can positively impact four growing global issues: human health,
climate change, constraints on natural resources and animal
welfare. As of March 2023, Beyond Meat branded products were
available at approximately 191,000 retail and foodservice outlets
in over 80 countries worldwide.
Forward-Looking Statements
Certain statements in this release constitute
“forward-looking statements,” including but not limited to
statements about the ATM Program, the expected proceeds and uses
thereof. These statements are based on management’s current
opinions, expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results. These
forward-looking statements are only predictions, not historical
fact, and involve certain risks and uncertainties, as well as
assumptions. Actual results, levels of activity, performance,
achievements and events could differ materially from those stated,
anticipated or implied by such forward-looking statements. While
Beyond Meat believes that its assumptions are reasonable, it is
very difficult to predict the impact of known factors, and, of
course, it is impossible to anticipate all factors that could
affect actual results. There are many risks and uncertainties that
could cause actual results to differ materially from
forward-looking statements made herein including, most prominently,
the risks discussed under the heading “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2022 filed with the U.S. Securities and Exchange Commission
(“SEC”) on March 1, 2023, and the Company's Quarterly Report on
Form 10-Q for the quarter ended April 1, 2023 filed with the SEC on
May 10, 2023, as well as other factors described from time to time
in Beyond Meat’s filings with the SEC. Such forward-looking
statements are made only as of the date of this release. Beyond
Meat undertakes no obligation to publicly update or revise any
forward-looking statement because of new information, future events
or otherwise, except as otherwise required by law. If we do update
one or more forward-looking statements, no inference should be made
that we will make additional updates with respect to those or other
forward-looking statements.
Contacts
Media:
Shira Zackai
shira.zackai@beyondmeat.com
Investors:
Raphael Gross
beyondmeat@icrinc.com
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