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Business Combination (Tables)
12 Months Ended
Dec. 31, 2022
Business Combinations [Abstract]  
Disclosure Of Reconciliation Of Elements Of Business Combination To Consolidated Cash Flows

The following table reconciles the elements of the Business Combination to the consolidated statements of cash flows and the consolidated statements of stockholders’ equity for the year ended December 31, 2021 (in thousands):

 

 

 

Recapitalization

 

Cash: Forest Road trust and cash, net of redemptions

 

$

216,444

 

Cash: PIPE financing

 

 

225,000

 

Less: Non-cash net assets assumed from Forest Road

 

 

269

 

Less: Fair value of Public and Private Placement Warrants

 

 

(60,900

)

Less: Transaction costs and advisory fees for Beachbody allocated to equity

 

 

(19,923

)

Less: Transaction costs and advisory fees for Forest Road

 

 

(27,059

)

Net Business Combination

 

 

333,831

 

Less: Non-cash net assets assumed from Forest Road

 

 

(269

)

Less: Transaction costs and advisory fees for Beachbody allocated to warrants

 

 

(5,337

)

Add: Non-cash fair value of Public and Private Placement Warrants

 

 

60,900

 

Net cash contributions from Business Combination

 

$

389,125

 

 

Disclosure Details Of Shares Issued After Business Combination

The number of shares of Common Stock issued immediately following the consummation of the Business Combination:

 

Common stock of Forest Road, net of redemptions

 

 

21,616,515

 

Forest Road shares held by the Sponsor (1)

 

 

7,500,000

 

PIPE shares

 

 

22,500,000

 

Business Combination and PIPE Shares - Class A Common Stock

 

 

51,616,515

 

Myx equity units - Class A Common Stock

 

 

13,546,503

 

Old Beachbody equity units - Class A Common Stock (2)

 

 

101,762,614

 

Old Beachbody equity units - Class X Common Stock (3)

 

 

141,250,310

 

Total shares of Common Stock immediately after Business Combination

 

 

308,175,942

 

 

(1) Includes 3,750,000 Forest Road Earn-out Shares.

(2) The number of Old Beachbody equity units - Class A Common Stock was determined from 20,220,589 common units and 10,068,841 preferred units of Old Beachbody outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio.

(3) The number of Old Beachbody equity units - Class X Common Stock was determined from 42,042,850 common units of Old Beachbody outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio.