Why Beachbody Has This SPAC Stock Flexing Its Muscles Today
Special purpose acquisition companies (SPACs) have been all over the news lately for mergers in the electric vehicle sector. But a deal was announced today with what may be a more familiar company. Shares in Forest Road Acquisition (NYSE:FRX) were 7.8% higher at the close Wednesday after the SPAC announced plans for a three-way merger that will bring The Beachbody Company public.
The SPAC announced that it intends to complete the merger with Beachbody and MYX Fitness valued at almost $3 billion after the boards of both Beachbody and MYX Fitness have unanimously approved the transaction.
Source Fool.com
