The Beachbody Company Plans $5.30M Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
The Beachbody Company has entered into an agreement with institutional investors for a registered direct offering of 543,590 shares at $9.75 per share, aiming to raise approximately $5.30 million.
December 11, 2023 | 11:52 am
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The Beachbody Company is raising funds through a direct offering of over half a million shares at $9.75 each, totaling around $5.3 million.
The direct offering is likely to dilute existing shares, which can lead to a short-term negative impact on the stock price. However, the infusion of capital may be positive in the long term if used effectively.
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