Beachbody files Section 205 petition to validate charter amendment after Boxed decision; hearing set March 14, 2023

Beachbody Company, Inc.

Filed petition on Feb 16, 2023 to validate 2021 charter increase of Class A common stock from 300M to 1.6B shares.
Petition seeks to ratify the amendment and all shares issued in reliance following Garfield v. Boxed ruling on separate class vote.
Charter amendment was approved by majority of common stock voting together in June 2021, not separately by Class A stockholders.
Hearing scheduled for March 14, 2023; failure could impair equity financing and stock-based compensation.
Company had rejected a similar stockholder demand letter in April 2022 before the Boxed decision.

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