Beyond Meat Readies 1-for-30 Reverse Stock Split

Dow Jones08-11

Beyond Meat said its board has selected a 1-for-30 reverse stock split.

The plant-based protein company on Tuesday said the reverse split is intended to help Beyond Meat regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market.

Every 30 shares will be reclassified to one new share. The reverse split will also reduce the number of authorized shares of common stock to 100 million, down from 3 billion.

The split is expected to become effective on the evening of Aug. 13, with shares trading on a split-adjusted basis when the markets open on Aug. 14.

The split comes after company stockholders at a special meeting in November approved thirty alternate amendments to Beyond Meat's restated certificate of incorporation.

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