By Reuters Staff
2 Min Read
(Reuters) - Fitness companies Beachbody LLC and Myx Fitness LLC will go public through a three-way merger with a blank-check firm affiliated with former TikTok chief Kevin Mayer, valuing the combined entity at around $2.9 billion.
Beachbody said on Wednesday that on-demand, interactive cycling provider Myx will become a part of the parent, The Beachbody Company, which will operate three brands: Beachbody On Demand, Openfit and Myx.
The deal will be supported by a private investment of $225 million led by institutional investors such as Fidelity Management & Research Company LLC and Fertitta Capital.
Forest Road Acquisition Corp, a special purpose acquisition company (SPAC), is led by Keith Horn, a former chief operating officer at hedge fund Elliot Management Corp. Former TikTok CEO Kevin Mayer is a strategic adviser to the company.
Global equity funds witnessed higher inflows in the seven days to Jan. 27, as investors remained hopeful of an economic recovery despite worries about a potential delay in stimulus and short-term hurdles in vaccine distribution.
Global bond funds lead inflows in the seven days to Jan. 20 as hopes of big fiscal stimulus packages under the new U.S. administration under President Joe Biden increased bets of a swift global economic recovery.
2 Min Read
PHNOM PENH (Reuters) - For some, a post-lockdown group activity that combines exercise with alcohol may seem like the ideal coronavirus stress-buster - though yoga purists should probably avoid Phnom Penh’s TwoBirds Craft Beer brewery while it’s taking place.
The brewery’s yoga classes, resumed after a six-week lockdown across Cambodia - which has officially recorded not a single COVID death - was lifted on Jan. 1, combine holding a pose with clutching a beer, and they’re attracting devotees.
“I have more fun with beer yoga. It’s not as serious as traditional yoga,” said Sreyline Bacha, 25, as she reached for a beer glass, wobbling just a little to maintain her balance in a pose.