Beyond Meat® Announces Proposed Public Offering of Common Stock

EL SEGUNDO, Calif., July 29, 2019 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat”), a leader in plant-based meat, announced today the commencement of an underwritten public offering of 3,250,000 shares of common stock, consisting of 3,000,000 shares of common stock offered by certain selling stockholders of Beyond Meat (the “Selling Stockholders”) and 250,000 shares of common stock offered by Beyond Meat. In addition, the Selling Stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 487,500 shares of common stock at the public offering price, less underwriting discounts and commissions. Beyond Meat will not receive any proceeds from the sale of common stock offered by the Selling Stockholders. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

Beyond Meat intends to use the net proceeds received by it from the offering (i) to continue to increase its production and supply capabilities, (ii) to pay for marketing and promotional activities, and (iii) for general working capital purposes.

Goldman Sachs & Co. LLC, J.P. Morgan and Credit Suisse are serving as lead book-running managers for the offering. BofA Merrill Lynch and Jefferies are also acting as book-running managers, and William Blair and Raymond James are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering, when available, may be obtained from any of the following sources:

• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com;

• J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204, or by email at prospectus-eq_fi@jpmchase.com; and

• Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, NY 10010, or by telephone at +1 (800) 221-1037, or by email at usa.prospectus@credit-suisse.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall 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.

Forward Looking Statements

This press release contains “forward looking statements.” Forward looking statements generally contain words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates," "anticipates," and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters. Forward looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. Important factors that could cause such differences include, but are not limited to, statements about: estimates of our expenses, future revenues, capital requirements and our needs for additional financing; our estimates of the size of our market opportunities; our ability to effectively manage our growth; our ability to effectively expand our manufacturing and production capacity; our ability to successfully enter new markets, manage our international expansion and comply with any applicable laws and regulations; the effects of increased competition from our market competitors; the success of our marketing efforts and the ability to grow brand awareness and maintain, protect and enhance our brand; our ability to attract and retain our suppliers, distributors, co-manufacturers and customers; our ability to procure sufficient high quality, raw materials to manufacture our products; the availability of pea protein that meets our standards; real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; changes in the tastes and preferences of our consumers; significant disruption in, or breach in security of our information technology systems and resultant interruptions in service and any related impact on our reputation; the attraction and retention of qualified employees and key personnel; the effects of natural or man-made catastrophic events particularly involving our or any of our co-manufacturers’ manufacturing facilities or our suppliers’ facilities; the effectiveness of our internal controls; changes in laws and government regulation affecting our business, including FDA governmental regulation and state regulation; changes in laws, regulations or policies of governmental agencies or regulators relating to the labeling of our products; the impact of adverse economic conditions; the financial condition of, and our relationships with our suppliers, co-manufacturers, distributors, retailers and foodservice customers; the ability of our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations; seasonality; the sufficiency of our cash and cash equivalents to meet our liquidity needs and service our indebtedness; economic conditions and their impact on consumer spending; outcomes of legal or administrative proceedings; and our, our suppliers’ and our co-manufacturers’ ability to protect our proprietary technology and intellectual property adequately. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release can be found under the captions “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations“ in our Quarterly Report on Form 10-Q for the quarter ended June 29, 2019 and our registration statement on Form S-1 relating to this offering, which are each accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and we specifically disclaim any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by any applicable securities laws. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation.

Contact: