Beyond Meat's stock hit an all-time low after the company proposed an exchange offer to eliminate over $800 million in debt. This move caused a 36% drop in the company's shares, which are down nearly 82% from a year ago. The debt restructuring offer aims to swap existing convertible notes for higher-interest 7% notes due in 2030, along with stock shares, but it requires 85% of holders to agree.

Beyond Meat has faced challenges in recent years, including a drop in revenues and rumors of bankruptcy. The company has made efforts to strengthen its balance sheet, including layoffs and hiring a restructuring officer. Despite these measures, the future of Beyond Meat remains uncertain as it works to recover from its financial struggles.