Forest Road Acquisition stockholders voted to approve the three-way business combination with The Beachbody Company and Myx Fitness. The deal is expected to close today.
Holders of nearly 59% of Forest Road’s shares cast votes at the meeting. Of the votes cast, approximately 99.5% were in favor of the merger.
The combined company will be named The Beachbody Company and its common stock and warrants are expected to start trading June 28 on the NYSE under BODY and BODY WS, respectively.
Announced in February, the transaction values the combined company at $2.9 billion and is expected to add over $420 million of cash to the balance sheet, including a committed PIPE of $225 million.
The Beachbody Company offers digital streaming fitness and nutrition solutions and Myx Fitness is an at-home connected fitness platform. Read more.
