FRX - The Beachbody to go public through merger with Forest Road Acquisition at $2.9B valuation

February, 10 2021 06:19 AM Forest Road Acquisition Corp. Class A

Forest Road Acquisition (FRX) stock jumps ~24% premarket, on three-way merger announcement with The Beachbody Company Group and Myx Fitness Holdings at $2.9B valuation. Upon closing of the transaction in 2Q21, The Beachbody Company will be the parent company of three premium content and technology-driven businesses: Beachbody On Demand ((BOD)), Openfit and Myx and will list on NYSE under a new ticker symbol 'BODY'. Beachbody management and shareholders are rolling over 100% of their equity stake and will own ~84% of the pro forma business at close. A quick look at pro forma ownership:Transaction will add over $420M of cash to the balance sheet, including a committed PIPE of $225M, led by institutional investors including Fidelity Management & Research Company LLC and Fertitta Capital.The Beachbody Company's historical and projected financials:

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The Beachbody to go public through merger with Forest Road Acquisition at $2.9B valuation

Company Name:	Forest Road Acquisition Corp. Class A
Stock Symbol:	FRX
Market:	NYSE

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