05:29 AM EDT, 07/18/2024 (MT Newswires) -- (Updates with the stock move in the headline and the second paragraph.)

Beyond Meat ( BYND ) has engaged a group of bondholders to start discussions about restructuring its balance sheet, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

Shares of the company were down 12% in premarket activity on Thursday after trading 16% lower in late hours on Wednesday.

The group of bondholders has interests in the company's $1.1 billion of convertible notes, the people were quoted as saying.

Beyond Meat ( BYND ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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