Beachbody Company (BODI) has provided an update.
Beachbody, LLC, part of The Beachbody Company, Inc., modified its Financing Agreement on April 5, 2024, adjusting the terms for its $50 million senior secured term loan. Changes include new minimum revenue requirements of $100 million for the remainder of 2024 and $110 million for fiscal quarters up to the end of 2025, and a liquidity threshold of $18 million. The company also reduced the exercise price for certain warrants from $20.50 to $9.16 per share and reported a $4 million prepayment on its term loans, indicating strategic financial restructuring to investors.
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