Beyond Meat Meme Turn Takes Convertible Holders on Wild Ride

Four years ago, Beyond Meat Inc. was able to raise over $1 billion selling a a zero-coupon convertible bond due 2027, taking advantage of rampant bets on the future of plant-based meat products.

Wolverine Asset Management, DE Shaw & Co. and Context Capital Management were among the firms that bought in, only to watch Beyond’s fortunes flag spectacularly as the meatless burger craze faded.