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Paul, Weiss Advises Credit Suisse in PIPE Investment in Beachbody Merger
- Client News
- February 10, 2021
Practices
Paul, Weiss is representing Credit Suisse Securities (USA) LLC as a PIPE placement agent in the three-way merger of The Beachbody Company Group, LLC; Forest Road Acquisition Corp., a publicly traded SPAC; and Myx Fitness Holdings, LLC. The combined company, to be known as The Beachbody Company, will become a publicly traded company with an estimated enterprise value of approximately $2.9 billion upon closing. Institutional investors have committed to a PIPE of $225 million to purchase shares of Class A common stock of the combined company, which will close concurrently with the business combination. The transaction, announced on February 10, is expected to close in the second quarter of 2021, subject to customary closing conditions and approvals.
The Paul, Weiss team includes corporate partner Brian Janson and counsel David Curtiss.