SANTA MONICA, Calif.–(BUSINESS WIRE)–The Beachbody Firm, LLC (“Beachbody”), a number one subscription well being and wellness firm, at this time introduced that Beachbody’s administration staff is collaborating within the sixteenth Annual Needham Digital Expertise & Media Convention on Wednesday, Could 19, 2021.
Beachbody’s Co-Founder, Chairman and Chief Govt Officer, Carl Daikeler, and President and Chief Monetary Officer, Sue Collyns are scheduled to take part in a hearth chat at 12:45 p.m. Jap Time. A dwell webcast of the fireplace chat can be obtainable at https://thebeachbodycompany.com/investors or Beachbody | Needham Webcast.
On February 10, 2021, The Beachbody Firm introduced its intention to change into a public firm by coming into right into a definitive three-way merger settlement with Forest Street Acquisition Corp. (NYSE: FRX), a publicly traded particular function acquisition firm, and Myx Health Holdings, LLC, an at-home linked health platform that includes an business main bike and residential studio. Beachbody continues to count on the three-way merger to shut within the second quarter of 2021. The mixed firm can be listed on the NYSE below a brand new ticker image, “BODY”.
About The Beachbody Firm
Headquartered in Santa Monica, The Beachbody Firm is a worldwide chief in well being and health, with a 22-year monitor report of making revolutionary content material and highly effective manufacturers. With 2.6 million paid digital health subscribers throughout two platforms, a nationwide peer-support system of over 400,000 influencers and coaches as of December 2020, plus a premium portfolio of branded vitamin merchandise, Beachbody is a number one holistic well being and wellness firm with over $1 billion in income projected in 2021. The Beachbody Firm, the father or mother firm to the Beachbody On Demand platform and the fast-growing DTC platform Openfit, just lately entered right into a pending three-way merger settlement with Forest Street Acquisition Corp. (FRX), a publicly traded particular function acquisition firm, and MYX Health Holdings LLC (Myx), an at-home linked health platform, that can make it a public firm. For extra info, please go to TheBeachbodyCompany.com.
About Myx Health
Myx Health delivers a revolutionary and customized resolution for its members to make linked health a part of their each day lives. The model’s cornerstone merchandise, The MYX and The MYX Plus, provide professional-quality gear at an reasonably priced worth, lots of of on-demand lessons, mixed with skilled teaching on a digital platform, designed to enhance endurance, power, mobility and adaptability. Utilizing science-backed strategies, Myx Health makes use of proprietary coronary heart price expertise and cross-training, delivered to life by way of optimistic teaching, to ship lasting outcomes. Myx Health is obtainable beginning at $1,299 with supply nationwide in roughly one to 3 weeks relying on location and scheduling availability.
About Forest Street Acquisition Corp.
Forest Street Acquisition Corp., a clean test firm shaped for the aim of effecting a merger, capital inventory change, asset acquisition, inventory buy, reorganization or related enterprise mixture with a number of companies, raised $300 million in November 2020 and its securities are listed on the NYSE below the tickers “FRX,” “FRX.U” and “FRX WS.” The Forest Street staff contains three former Disney senior executives — Tom Staggs, director and Chairperson of the Strategic Advisory Committee, Kevin Mayer, strategic advisor and Salil Mehta, Chief Monetary Officer — and is strengthened by the strategic connectivity and deal-making experience of administrators, officers and strategic advisors like Shaquille O’Neal, Peter Schlessel, Keith Horn, Sheila Stamps, Teresa Miles Walsh and Martin Luther King III. For extra info, please go to https://www.spacroadone.com/.
This press launch accommodates sure forward-looking statements inside the that means of the federal securities legal guidelines with respect to the proposed transaction between Beachbody and Forest Street, together with statements concerning the anticipated advantages of the transaction, the anticipated timing of the transaction, future monetary situation and efficiency of Beachbody and anticipated monetary impacts of the transaction (together with future income, professional forma fairness worth and money stability), the satisfaction of closing circumstances to the transaction, the PIPE transaction, the extent of redemptions of FRX’s public stockholders and the merchandise and markets and anticipated future efficiency and market alternatives of Beachbody. These forward-looking statements typically are recognized by the phrases “consider,” “venture,” “count on,” “anticipate,” “estimate,” “intend,” “technique,” “future,” “alternative,” “plan,” “could,” “ought to,” “will,” “would,” “can be,” “will proceed,” “will doubtless consequence” and related expressions. Ahead-looking statements are predictions, projections and different statements about future occasions which can be primarily based on present expectations and assumptions and, consequently, are topic to dangers and uncertainties. Many elements might trigger precise future occasions to vary materially from the forward-looking statements on this press launch, together with however not restricted to: (i) the chance that the transaction might not be accomplished in a well timed method or in any respect, which can adversely have an effect on the worth of FRX’s securities, (ii) the chance that the transaction might not be accomplished by FRX’s enterprise mixture deadline and the potential failure to acquire an extension of the enterprise mixture deadline if sought by FRX, (iii) the failure to fulfill the circumstances to the consummation of the transaction, together with the approval of the merger settlement by the stockholders of FRX, the satisfaction of the minimal belief account quantity following any redemptions by FRX’s public stockholders and the receipt of sure governmental and regulatory approvals, (iv) the shortage of a 3rd occasion valuation in figuring out whether or not or to not pursue the proposed transaction, (v) the lack to finish the PIPE transaction, (vi) the prevalence of any occasion, change or different circumstance that would give rise to the termination of the merger settlement, (vii) the impact of the announcement or pendency of the transaction on Beachbody’s enterprise relationships, working outcomes, and enterprise typically, (viii) dangers that the proposed transaction disrupts present plans and operations of Beachbody, (ix) the end result of any authorized proceedings which may be instituted towards Beachbody or towards FRX associated to the merger settlement or the proposed transaction, (x) the power to take care of the itemizing of FRX’s securities on a nationwide securities change, (xi) modifications within the aggressive and controlled industries through which Beachbody and Myx function, variations in working efficiency throughout opponents, modifications in legal guidelines and laws affecting the enterprise of Beachbody and Myx and modifications within the mixed capital construction, (xii) the power to implement enterprise plans, forecasts, and different expectations after the completion of the proposed transaction, and establish and understand extra alternatives, (xiii) the chance of downturns and a altering regulatory panorama within the extremely aggressive residential actual property business, and (ix) prices associated to the transaction and the failure to comprehend anticipated advantages of the transaction or to comprehend estimated professional forma outcomes and underlying assumptions, together with with respect to estimated shareholder redemptions. The foregoing listing of things is just not exhaustive. You need to fastidiously think about the foregoing elements and the opposite dangers and uncertainties described within the “Danger Components” part of the registration assertion on Kind S-4 mentioned beneath and different paperwork filed by FRX every now and then with the SEC. These filings establish and tackle different necessary dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements converse solely as of the date they’re made. Readers are cautioned to not put undue reliance on forward-looking statements, and Beachbody and FRX assume no obligation and don’t intend to replace or revise these forward-looking statements, whether or not on account of new info, future occasions or in any other case. None of Beachbody, Myx or FRX provides any assurance that Beachbody, Myx or FRX, or the mixed firm, will obtain its expectations.
Necessary Info and The place to Discover It
This press launch pertains to a proposed transaction amongst The Beachbody Firm, Forest Street Acquisition Corp., and Myx Health. This press launch doesn’t represent a suggestion to promote or change, or the solicitation of a suggestion to purchase or change, any securities, nor shall there be any sale of securities in any jurisdiction through which such provide, sale or change can be illegal previous to registration or qualification below the securities legal guidelines of any such jurisdiction. FRX intends to file a registration assertion on Kind S-4 with the SEC, which is able to embody a doc that serves as a prospectus and proxy assertion of FRX, known as a proxy assertion/prospectus. A proxy assertion/prospectus can be despatched to all FRX shareholders. FRX additionally will file different paperwork concerning the proposed transaction with the SEC. Earlier than making any voting determination, buyers and safety holders of FRX are urged to learn the registration assertion, the proxy assertion/prospectus and all different related paperwork filed or that can be filed with the SEC in reference to the proposed transaction as they change into obtainable as a result of they may comprise necessary details about the proposed transaction.
Buyers and safety holders will be capable to receive free copies of the registration assertion, the proxy assertion/prospectus and all different related paperwork filed or that can be filed with the SEC by FRX by way of the web site maintained by the SEC at www.sec.gov.
Contributors within the Solicitation
FRX and its administrators and government officers could also be deemed to be members within the solicitation of proxies from FRX’s shareholders in reference to the proposed transaction. An inventory of the names of such administrators and government officers and knowledge concerning their pursuits within the enterprise mixture can be contained within the proxy assertion/prospectus when obtainable. It’s possible you’ll receive free copies of those paperwork as described within the previous paragraph.