8-K
filed November 27, 2023, 6:59 PM ET
ticker BODI
CIK 0001826889
other material
confidence high
sentiment neutral
materiality 0.55
Beachbody completes 1-for-50 reverse stock split; targets $165M cost savings by Dec 31, 2023
Beachbody Company, Inc.
- Reverse split effective Nov 21, 2023; Class A shares reduced from 177.81M to 3.56M, Class X from 136.45M to 2.73M.
- Board and stockholders authorized split ratio up to 1-for-50; adopted ratio of 1-for-50.
- Company targets cumulative $165M cost savings by Dec 31, 2023 under turnaround plan begun in 2021.
- Reverse split intended to help regain NYSE minimum closing price compliance and preserve listing.
- Annual meeting results: nine directors elected, Deloitte ratified as auditor, executive compensation advisory vote passed.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Beachbody Company, Inc.: Filed a certificate of amendment to effect a 1-for-50 reverse stock split of common stock (effective 2023-11-21).
- Change
- charter amendment
- Effective
- 2023-11-21
Exact text from the filing
On November 21, 2023, the Company filed a certificate of amendment (the “Certificate of Amendment”) to its Second Amended & Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the Reverse Stock Split
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
Beachbody Company, Inc. shareholders approved The ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-11-20 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
The ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023. The selection was ratified by the votes indicated.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
Beachbody Company, Inc. shareholders approved The advisory approval of the Company’s executive compensation at the 2023-11-20 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
The advisory approval of the Company’s executive compensation. The advisory approval was obtained by the votes indicated.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
Beachbody Company, Inc. shareholders approved Election of nine nominees to serve on the Board for a one-year term to expire at the 2024 annual meeting of stockholders at the 2023-11-20 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
Election of nine nominees to serve on the Board for a one-year term to expire at the 2024 annual meeting of stockholders. The following nine directors were elected by the votes indicated.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
Beachbody Company, Inc. shareholders approved The authorization of the Board to amend the Company's amended and restated Certificate of Incorporation to effect a reverse stock split of all of the Company's issued and outstanding common stock by a ratio in the range of 1-for-10 to 1-for-50 at the 2023-11-20 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
The authorization of the Board to amend the Company's amended and restated Certificate of Incorporation to effect a reverse stock split of all of the Company's issued and outstanding common stock by a ratio in the range of 1-for-10 to 1-for-50. The proposal was approved by the votes indicated.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.