Beyond Meat’s shares were trading below $1 Tuesday as investors fretted over the company’s plans to cut its debt by issuing more shares.

It was further bad news for the plant-based meat maker, which has been struggling with weak demand for its burgers, sausages, tenders and other products. Beyond Meat’s net revenue was down 15% in the first six months of this year.

El Segundo, California-based Beyond Meat said Monday that most of the holders of its convertible notes had agreed to a plan to help the company reduce its debt load by $800 million and extend the time until that debt matures.

Under the plan, Beyond Meat exchanged debt due in 2027 for $202.5 million in debt maturing in 2030. The company also said it would issue up to 326 million shares of new stock. That rattled investors, sin

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