secwatch.observer — SEC 8-K summary
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Issuer:     Beachbody Company, Inc. (BODI)
CIK:        0001826889
Form:       8-K
Filed at:   2024-04-08T23:59:59+00:00
Accession:  0000950170-24-042629
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beachbody amends term loan: revenue covenant lowered to $100M/quarter, $25.5M outstanding
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- Quarterly revenue floor reduced to $100M through Dec 2024, then $110M through Dec 2025.
- Minimum liquidity covenant lowered from $22M to $18M.
- Paid down $4M debt, reducing outstanding loan balance to $25.5M.
- Warrant exercise price adjusted from $20.50 to $9.16 per share.
- CEO cites reduced revenue breakeven from >$900M in 2022 to <$500M in 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826889/000095017024042629/0000950170-24-042629-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826889/000095017024042629/body-20240405.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-042629

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