Today Forest Road Acquisition Corp (NYSE: FRX) announced that its shareholders have elected to favor the planned three-way corporate grouping with The Beachbody Company Group, LLC and Myx Fitness Holdings, LLC. The approval for the merger came at the exceptional gathering of shareholders, which was held on, June 24, 2021. The Corporate Amalgamation is projected to conclude on June 25, 2021.
Around 58.5% of Forest Road owners of distributed and unresolved shares cast ballots at the Special Meeting. Around 99.5% of the ballots cast at the Special Meeting chose to favor the Business Combination.
The combined company to be called The Beachbody Company, Inc.
As formerly announced, the joint company will be called “The Beachbody Company, Inc.,” Its common stock and securities are projected to start interchange on the New York Stock Exchange (“NYSE”) under the different ticker codes “BODY” and “BODY WS,” correspondingly, on June 28, 2021.
“We are delighted with the phenomenal backing from our investors. Today’s ballot marks an imperative landmark in Beachbody’s undertaking to help more people attain their goals and lead fit and satisfying lives. We look onward to supporting Beachbody as it advances this assignment as a public company, familiarizing many more people to its established, at-home health and nourishment solutions,” said Keith Horn, Chief Executive Officer of Forest Road.
Forest Road will file a Current Report on Form 8-K revealing the full polling consequences with the Securities and Exchange Commission.
The Beachbody Company, Inc. posts a 34% uptick in income for the first quarter of 2021
In other news, The Beachbody Company, Inc. has announced that the company has posted a 34% uptick in income for the first quarter of 2021.
In the first quarter, Beachbody’s $226.2 million in income contains $95.2 million in digital payment deals, a 52% jump, and $131.1 million for nourishment products, a 23% upsurge compared to the first quarter of 2020. Connecticut-based Myx Fitness’s income matured 2,733% to $17 million during the same time.