Benzinga | Jun 9, 2021 08:19AM EDT

Beachbody CEO Letter To Forest Road Shareholders (Full Letter)

The Beachbody Company, LLC:

Dear Forest Road Acquisition Corp. shareholders,

More than 22 years ago, I asked Jon Congdon if he would join me in creating a company that would take advantage of the growth in direct-to-consumer marketing and the internet for profitable distribution, the growing trend of in-home fitness and the development of online communities -- which at the time were nascent and simply called "Message Boards."

We never expected that over the following two decades, we would help create some of the most memorable fitness and nutrition content, reinvent mass-market healthy supplementation and be on the cutting edge of social commerce -- incentivizing the customer to help us achieve our mission of helping people achieve their goals to lead healthy fulfilling lives. We are proud of Beachbody's powerful business model, incredible collection of assets, brands and loyal customers. Perhaps, most shocking, is that despite all of this, we are just getting started.

We've come a long way since the days of workout DVDs. The pivot to digital was a massive sea change, one that could have threatened our very existence. Instead, our team seized on this technological revolution as an opportunity, transforming the business to leverage the power of technology. We find ourselves again on the horizon of further growth and innovation and we couldn't be more confident.

In addition to new approaches to live content, connected fitness, and subscription nutrition products we remain fiercely committed to the mission. The completion of the proposed transaction to merge with Forest Road Acquisition Corp. and Myx Fitness and become a publicly listed company presents us with the capital to invest in our business and accelerate growth beyond cash flow. We are poised to help tens of millions more people achieve their goals and lead healthy fulfilling lives...a mission we need now more than ever.

This opportunity is why I am all in. I have no plans to sell a share in this exciting transaction. I want to be perfectly aligned with our shareholders and customers: This company can and will grow to serve its customers with the total solution of fitness, nutrition and community more effectively and cost-efficiently than any competitor.

As we contemplated this decision to transform our private, founder-run company to a public company one thing was critical to me; that the company was positioned to maintain our relentless pursuit of helping people succeed. That focus is not only the very heart of the company, but also the very essence of our success. Our customers, coaches, super trainers, staff, management and soon-to-be public shareholders must be aligned on the long game: there are millions of people who need access to the real deal, the total solution. And we are the company committed not only to delivering on our promises of quality and efficacy, but to making our total solution available at an affordable price.

As the post-pandemic world returns to a more "normal" life, we believe some things have changed forever, and one of them is that the premise on which we started this company is now a permanent fixture for many more people: health begins at home; from our nutrition choices to exercise. And I truly believe that the company who focuses on that premise for the benefit of the mass market can have a timely and important impact on the well-being of the world.

I don't say that to pound my chest. I say that to demonstrate our resolve and passion to keep helping people achieve their goals and enjoy healthy, fulfilling lives. That is why I am all-in and not selling a share in this transaction.

But I do need your help. On June 24, 2021, Forest Road Acquisition Corp. (NYSE:FRX) ("Forest Road") will host a special meeting of stockholders to vote on its proposed merger with The Beachbody Company Group, LLC ("Beachbody") and Myx Fitness Holdings, LLC ("Myx") to usher in this chapter, and officially list BODY on the New York Stock Exchange.

You can visit www.votefrx.com for details on how to vote. If you have questions or need assistance in voting your shares, you can contact your broker or our proxy solicitation firm Morrow Sodali at 1-800-460-1014. Please vote as soon as possible. Your support is greatly appreciated.

It's time to invest in your body. That's right, we don't just want your vote, we want you to be a part of the health and fitness revolution. You can make a difference in the world, and that's starts with your vote and with you, because every BODY is a Beachbody.

Sincerely,

Carl Daikeler

Co-Founder, Chairman, and CEO

The Beachbody Company

Click HERE to view a video presentation of this message.