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Fake food company Beyond Meat (NASDAQ: BYND) crashed the most on record today after it announced that nearly all creditors agreed to a debt-swap deal that massively dilutes equity shareholders.

BYND wrote in a press release that 96.92% of holders of its 0% Convertible Senior Notes due 2027 agreed to participate in the debt-equity swap offer, clearing the 85% threshold required for the deal to proceed.

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