Beachbody Company Reports Sale Of Its Van Nuys Production Facility Which Had A Net Carrying Value Of $4.8M At December 31, 2023, For $6.2M
Portfolio Pulse from Benzinga Newsdesk
Beachbody Company sold its Van Nuys production facility, which had a net carrying value of $4.8M as of December 31, 2023, for $6.2M. Concurrently, it entered into a five-year lease for the same facility, with options to extend the lease twice for three years each.
March 04, 2024 | 9:27 pm
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Beachbody Company successfully sold its Van Nuys production facility for $6.2M, higher than its net carrying value of $4.8M, and secured a leaseback agreement.
The sale of the Van Nuys production facility for more than its net carrying value represents a positive financial move for Beachbody Company, indicating effective asset management. The subsequent lease agreement ensures continued operation without disruption, which is beneficial for the company's long-term operational stability. This news is likely to be viewed positively by investors, potentially leading to a short-term increase in BODI's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100