Beachbody Files 8-K on Disposals, Personnel Changes
Ticker: BODYW · Form: 8-K · Filed: Sep 30, 2024 · CIK: 1826889
| Field | Detail |
|---|---|
| Company | Beachbody Company, Inc. (BODYW) |
| Form Type | 8-K |
| Filed Date | Sep 30, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.0001, $6, $8 m, $11 million, $9 |
| Sentiment | neutral |
Sentiment: neutral
Topics: restructuring, personnel-change, disposal
TL;DR
Beachbody's 8-K drops: exits, new execs, and disposal costs. Watch for restructuring.
AI Summary
On September 30, 2024, The Beachbody Company, Inc. filed an 8-K report detailing cost-associated exit or disposal activities. The report also covers the departure of certain officers, election of directors, and compensatory arrangements. Additionally, it includes a Regulation FD disclosure and other events, along with financial statements and exhibits.
Why It Matters
This filing indicates potential restructuring or strategic shifts within Beachbody, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The filing mentions disposal activities and personnel changes, which can signal financial or operational challenges.
Key Players & Entities
- The Beachbody Company, Inc. (company) — Registrant
- September 30, 2024 (date) — Date of Report
- 001-39735 (company) — Commission File Number
- Forest Road Acquisition Corp. (company) — Former Company Name
FAQ
What specific cost-associated exit or disposal activities are detailed in the filing?
The filing indicates cost-associated exit or disposal activities, but the specific details are not provided in the provided text excerpt.
Who are the directors or officers that have departed?
The filing mentions the departure of directors or certain officers, but their names are not specified in the provided text excerpt.
What are the compensatory arrangements for the officers mentioned?
The filing notes compensatory arrangements of certain officers, but the specifics are not detailed in the provided text excerpt.
What is the Regulation FD disclosure about?
The filing includes a Regulation FD disclosure, but the content of this disclosure is not elaborated upon in the provided text excerpt.
What other events are reported in this 8-K filing?
The filing lists 'Other Events' as a category, but the specific nature of these events is not described in the provided text excerpt.
Filing Stats: 1,824 words · 7 min read · ~6 pages · Grade level 15 · Accepted 2024-09-30 17:18:59
Key Financial Figures
- $0.0001 — stered Class A Common Stock, par value $0.0001 per share BODI The New York Stock E
- $6 — he workforce reduction of approximately $6 - $8 million, which relate primarily to
- $8 m — rkforce reduction of approximately $6 - $8 million, which relate primarily to employ
- $11 million — 24. The Company estimates approximately $11 million in non-cash charges to be recorded prim
- $9 — Pivot. The Company expects to record $9-11 million of these charges in the thir
Filing Documents
- d822185d8k.htm (8-K) — 44KB
- d822185dex991.htm (EX-99.1) — 16KB
- 0001193125-24-229116.txt ( ) — 190KB
- bodi-20240930.xsd (EX-101.SCH) — 3KB
- bodi-20240930_lab.xml (EX-101.LAB) — 18KB
- bodi-20240930_pre.xml (EX-101.PRE) — 11KB
- d822185d8k_htm.xml (XML) — 4KB
Forward Looking Statements
Forward Looking Statements This Current Report on Form 8-K contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, which are statements other than statements of historical facts and statements in future tense. These statements include but are not limited to, statements regarding our future performance and potential cost savings opportunities, including expected financial results, our business strategy, our plans, and our objectives and future operations. Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our reliance on a few key products; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; our ability to implement the proposed restructuring of our core business model; and litigation and the ability to adequately protect our intellectual property rights. You can identify these statements by the use of terminology such as "believe", "plans", "expect", "will", "should, "could", "estimate", "anticipate" or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the "Risk Factors" section of our Securities and Exchange Commission (the "SEC") filings,
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated September 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The Beachbody Company, Inc. Date: September 30, 2024 By: /s/ Jonathan Gelfand Jonathan Gelfand Executive Vice President, Business & Legal Affairs, Corporate Secretary