The Beachbody Company, LLC (“Beachbody”), a leading subscription
health and wellness company, today announced that Beachbody’s
management team is participating in the Baird 2021 Global Consumer,
Technology & Services Conference on Tuesday, June 8, 2021.
Beachbody’s Co-Founder, Chairman and Chief Executive Officer,
Carl Daikeler, and President and Chief Financial Officer, Sue
Collyns are scheduled to present at 3:45 p.m. Eastern Time. A live
webcast of the presentation will be available at
https://thebeachbodycompany.com/investors or Beachbody | Baird
Webcast.
On June 24, 2021, Forest Road Acquisition Corp. (NYSE: FRX)
(“Forest Road”) will host a special meeting of stockholders to vote
on its proposed merger with Beachbody and Myx Fitness Holdings, LLC
(“Myx”). Forest Road’s Board of Directors unanimously recommends
that stockholders vote “FOR” the adoption of the merger agreement
and the other proposals detailed in the proxy statement/prospectus
sent to stockholders. Every stockholder of record as of May 6, 2021
is entitled to vote. Please visit www.votefrx.com for details on
how to vote.
About The Beachbody Company Group, LLC
Headquartered in Santa Monica, Beachbody is a worldwide leader
in health and fitness, with a 22-year track record of creating
innovative content and powerful brands. With 2.7 million paid
digital fitness subscribers across two platforms, a nationwide
peer-support system of over 400,000 influencers and coaches as of
March 31, 2021, plus a premium portfolio of branded nutrition
products, Beachbody is a leading holistic health and wellness
company with over $1 billion in revenue projected in 2021.
Beachbody, the parent company to the Beachbody On Demand platform
and the fast-growing DTC platform Openfit, recently entered into a
pending three-way merger agreement with Forest Road, a publicly
traded special purpose acquisition company, and Myx, an at-home
connected fitness platform, that will make it a public company. For
more information, please visit TheBeachbodyCompany.com.
About Myx Fitness Holdings, LLC
Myx delivers a revolutionary and personalized solution for its
members to make connected fitness part of their daily lives. The
brand's cornerstone products, The MYX and The MYX Plus, offer
professional-quality equipment at an affordable price, hundreds of
on-demand classes, combined with expert coaching on a digital
platform, designed to improve endurance, strength, mobility and
flexibility. Using science-backed methods, Myx utilizes proprietary
heart rate technology and cross-training, brought to life through
positive coaching, to deliver lasting results. Myx is available
starting at $1,299 with delivery nationwide in approximately one to
three weeks depending on location and scheduling availability.
About Forest Road Acquisition Corp.
Forest Road Acquisition Corp., a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses, raised $300 million in
November 2020 and its securities are listed on the NYSE under the
tickers “FRX,” “FRX.U” and “FRX WS.” The Forest Road team includes
three former Disney senior executives — Tom Staggs, director and
Chairperson of the Strategic Advisory Committee, Kevin Mayer,
strategic advisor and Salil Mehta, Chief Financial Officer — and is
strengthened by the strategic connectivity and deal-making
expertise of directors, officers and strategic advisors like
Shaquille O'Neal, Peter Schlessel, Keith Horn, Sheila Stamps,
Teresa Miles Walsh and Martin Luther King III. For more
information, please visit https://www.spacroadone.com/. For more
information on how to vote, please visit www.votefrx.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed transaction between Beachbody and Forest Road,
including statements regarding the anticipated benefits of the
transaction, the anticipated timing of the transaction, future
financial condition and performance of Beachbody and expected
financial impacts of the transaction (including future revenue, pro
forma equity value and cash balance), the satisfaction of closing
conditions to the transaction, the PIPE transaction, the level of
redemptions of FRX’s public stockholders and the products and
markets and expected future performance and market opportunities of
Beachbody. These forward-looking statements generally are
identified by the words "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," "will be,"
"will continue," "will likely result" and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the risk that the
transaction may not be completed in a timely manner or at all,
which may adversely affect the price of FRX’s securities, (ii) the
risk that the transaction may not be completed by FRX’s business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by FRX,
(iii) the failure to satisfy the conditions to the consummation of
the transaction, including the approval of the merger agreement by
the stockholders of FRX, the satisfaction of the minimum trust
account amount following any redemptions by FRX’s public
stockholders and the receipt of certain governmental and regulatory
approvals, (iv) the lack of a third party valuation in determining
whether or not to pursue the proposed transaction, (v) the
inability to complete the PIPE transaction, (vi) the occurrence of
any event, change or other circumstance that could give rise to the
termination of the merger agreement, (vii) the effect of the
announcement or pendency of the transaction on Beachbody’s business
relationships, operating results, and business generally, (viii)
risks that the proposed transaction disrupts current plans and
operations of Beachbody or Myx Fitness, (ix) the outcome of any
legal proceedings that may be instituted against Beachbody, Myx
Fitness or against FRX related to the merger agreement or the
proposed transaction, (x) the ability to maintain the listing of
the securities on a national securities exchange, (xi) changes in
the competitive and regulated industries in which Beachbody and Myx
Fitness operate, variations in operating performance across
competitors, changes in laws and regulations affecting the business
of Beachbody and Myx Fitness and changes in the combined capital
structure, (xii) the ability to implement business plans,
forecasts, and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities, and (xiii) costs related to the transaction and the
failure to realize anticipated benefits of the transaction or to
realize estimated pro forma results and underlying assumptions,
including with respect to estimated shareholder redemptions. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the "Risk Factors" section of the
Registration Statement on Form S-4 (as amended, the “Registration
Statement”), and other documents filed by FRX from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Beachbody, Myx Fitness and FRX
assume no obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise. None of Beachbody, Myx Fitness or FRX
gives any assurance that Beachbody, Myx Fitness or FRX, or the
combined company, will achieve its expectations.
No Offer or Solicitation
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities pursuant to the proposed transaction or
otherwise, nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
Important Information and Where to Find It
This press release relates to a proposed transaction among
Beachbody, Forest Road, and Myx Fitness. The Registration Statement
was declared effective by the SEC on May 27, 2021. A definitive
proxy statement/prospectus will be sent to all FRX stockholders.
Before making any voting decision, stockholders of FRX are urged to
read the definitive proxy statement/prospectus and all other
relevant documents filed or that will be filed with the SEC in
connection with the proposed transaction as they become available
because they will contain important information about the proposed
transaction.
Investors and stockholders will be able to obtain free copies of
the Registration Statement, the definitive proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by FRX through the website maintained by
the SEC at www.sec.gov.
Participants in the Solicitation
FRX and its directors, executive officers and advisors may be
deemed participants in the solicitation of proxies from FRX’s
stockholders with respect to the proposed transaction. A list of
the names of those directors, executive officers and advisors and a
description of their interests in the Company is contained in the
Registration Statement and is available free of charge at the SEC’s
web site at www.sec.gov, or by directing a request to Forest Road
Acquisition Corp., 1177 Avenue of the Americas, 5th Floor, New
York, New York 10036, Attention: Keith L. Horn. Additional
information regarding the interests of such participants is
contained in the definitive proxy statement/prospectus for the
proposed transaction.
Beachbody, Myx Fitness and their respective directors and
executive officers may also be deemed to be participants in the
solicitation of proxies from the stockholders of FRX in connection
with the proposed transaction. A list of the names of such
directors and executive officers and information regarding their
interests in the proposed transaction is included in the definitive
proxy statement/prospectus for the proposed transaction.
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version on businesswire.com: https://www.businesswire.com/news/home/20210607005667/en/
Investors For The Beachbody Company: ICR - Beachbody@icrinc.com
For Forest Road: ir@forestroadco.com
Media For The Beachbody Company: ICR - BeachbodyPR@icrinc.com
For Forest Road: media@forestroadco.com
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