Beyond Meat, Inc., one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats, has announced the pricing of its offering of US$1 billion aggregate principal amount of 0% convertible senior notes due 2027 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$750 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on March 5, 2021, subject to customary closing conditions. Beyond Meat also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$150 million principal amount of notes.
Latham & Watkins LLP represents Beyond Meat in the offering with a corporate team led by partners Cathy Birkeland, Greg Rodgers, Arash Aminian Baghai, and Alexa Berlin, with associates Greer Gaddie, Ryan Gold, Sara Mykrantz, and Ben Winnett. Advice was also provided on equity derivatives matters by New York partner Catherine Lee, with associates Christopher Yu and Kate Kim; and on tax matters by New York partners Elena Romanova and Bora Bozkurt, with associate Michael Syku.