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Forest Road Spac With Former Disney Execs Kevin Mayer, Tom Staggs Buying Digital Fitness Group Beachbody

Forest Road Spac With Former Disney Execs Kevin Mayer, Tom Staggs Buying Digital Fitness Group Beachbody

Forest Road Acquisition Corp., a special purpose acquisition company (or Spac) backed by the eponymous entertainment finance firm with a Hollywood-heavy roster of advisors has found its target, announcing plans to buy digital fitness specialist Beachbody Company and take it public.

The transaction involves a three-way merger between the Forest Road Spac, Myx Fitness Holdings, an at-home connected fitness platform, and Santa Monica-based Beachbody. The deal values the combined business at $2.9 billion and is expected to add over $420 million of cash to the balance sheet.

This is one of the first high-profile entertainment Spac-backed acquisitions by an explosion of financial vehicles also called “blank check” companies. Backers, in this case Forest Road, assemble seasoned executives and advisors, create a Spac, take it public and start looking for an operating company to acquire. Merging with a Spac is a faster, easier way for a private company to go public.

“When we raised our Spac,

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