Beachbody Company to sell 543,590 shares at $9.75 in registered direct offering

The Beachbody Companyentered into a definitive securities purchase agreement with certain institutional investors for the purchase and sale of 543,590 shares of the Company’s common stock at a purchase price of $9.75 per share of common stock in a registered direct offering. The closing of the offering is expected to occur on or about December 13, 2023, subject to the satisfaction of customary closing conditions. In addition, in a concurrent private placement, the Company will issue to the investors warrants to purchase up to 543,590 shares of common stock. The warrants have an exercise price of $11.24 per share, will be exercisable six months following the date of issuance and will have a term of five and one-half years following the date of issuance. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $5.3 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes.