Beyond Meat, Inc. (BYND) stock is soaring 5.31% in pre-market trading on Tuesday, rebounding from a steep 48.51% decline in the previous session. The surge comes as investors react positively to the company's announcement of a new debt deal, which is expected to provide the plant-based meat alternative producer with more time to restructure its business.

The debt exchange plan, initially met with investor concern, now appears to be viewed as a lifeline for the struggling company. Beyond Meat, which has been grappling with challenges in the competitive meat-alternative market, is using this opportunity to issue new shares as part of its restructuring efforts. This move is seen as a crucial step in the company's attempt to regain its footing and address its financial challenges.

Despite the positive pre-market movement, it's worth noting that Beyond Meat's stock remains significantly below its recent highs. On Monday, the stock closed at $1.04, a stark 84.80% below its 52-week high of $6.81 reached on October 14th. The company's ability to capitalize on this debt restructuring and successfully implement its turnaround strategy will be critical for its long-term prospects in the increasingly crowded plant-based food sector.