Beyond Meat Enters into Equity Distribution Agreement with B. Riley Securities, Inc.

On November 7, 2024, Beyond Meat, Inc. (NASDAQ: BYND) disclosed that it has signed an Equity Distribution Agreement with B. Riley Securities, Inc. The agreement entails the sale of shares of the Company’s common stock, with an aggregate offering price of up to $200,000,000, under an “at the market” equity offering program. B. Riley will act as the sales agent for these transactions.

The Equity Distribution Agreement allows Beyond Meat to dictate the parameters for the sale of shares, encompassing aspects such as pricing, size limits, and timing. The company plans to sell shares intermittently in varying amounts based on factors like market conditions, trading liquidity, stock price, and capital requirements. B. Riley is granted the authorization to sell the shares through multiple methods permitted by law.

As part of the agreement, Beyond Meat will pay B. Riley a commission of up to 3.0% of the gross offering proceeds from the sale of Common Stock. In addition, the Company has provided customary representations, warranties, covenants, and indemnification rights to B. Riley. The terms of the Equity Distribution Agreement allow for termination by either party via written notice.

Sales of shares under this agreement will be executed in accordance with the Company’s shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission on April 12, 2024. A prospectus supplement confirming the offer and sale of shares was filed by Beyond Meat on November 7, 2024.

Legal counsel Latham & Watkins LLP issued an opinion on November 7, 2024, validating the issuance and sale of the Common Stock pursuant to the Equity Distribution Agreement. The full details and terms of this Agreement are available in the 8-K filing as Exhibit 1.1, with Latham & Watkins LLP’s opinion filed as Exhibit 5.1.

It’s important to note that this filing does not constitute a solicitation to buy the mentioned securities. No offer will be made in any state where such solicitation would be illegal prior to registration or qualification under relevant state securities laws.

In other news, MBX Biosciences, Inc., a clinical-stage biopharmaceutical company, reported its third-quarter financial results and provided a business update. The company noted significant gross proceeds from an initial public offering and Series C financing, along with progress in its clinical-stage precision peptide programs.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Beyond Meat’s 8K filing here.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.