secwatch.observer — SEC 8-K summary
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Issuer:     Beachbody Company, Inc. (BODI)
CIK:        0001826889
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0000950170-23-066176
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 3.03, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beachbody completes 1-for-50 reverse stock split; targets $165M cost savings by Dec 31, 2023
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826889/000095017023066176/0000950170-23-066176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826889/000095017023066176/body-20231120.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-066176

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