As planned, the shareholders of Forest Road Acquisition voted to approve a three-way merger of that special-purpose SPAC with The Beachbody Company and Myx Fitnes Holdings, an American supplier of connected exercise bicycles that generated revenues of $30 million last year from the sale of over 27,000 units priced at $1,290. The deal gives a value of $2.9 billion to the combined entity, which will retain the name of The Beachbody Company and trade under the ticker symbol BODY on the New York Stock Exchange from June 28. The valuation corresponds to 2.0 times the group’s projected 2022 revenues. For 2020, its pro forma revenues were $880 million, the bulk of which came from Beachbody, where they generated a gross margin of 89 percent on its 2.6 million digital fitness subscriptions, boasting a monthly retention rate of 96 percent.