Tiger Capital Group Provides $35 Million Financing to Beachbody Company.

Tiger Finance, in partnership with SG Credit Partners, has provided $35 million in financing to The Beachbody Company, a leading fitness and nutrition company. The financing includes a $25 million term loan and a $10 million accordion, allowing the company to retire $17.3 million of debt and add approximately $5 million in capital to its balance sheet. This is intended to support the company's transition to a new business model.

Tiger Finance, in partnership with SG Credit Partners, has provided The Beachbody Company, Inc. (NYSE: BODI) with a $35 million financing package. The three-year loan facility includes a $25 million immediate term loan and a $10 million uncommitted accordion. This funding allowed Beachbody to retire $17.3 million in outstanding debt and add approximately $5 million to its balance sheet.

The financing is designed to support the fitness and nutrition company's transition to a new business model, particularly focusing on expansion in the digital fitness space. According to Carl Daikeler, Beachbody's CEO, the funding provides the liquidity needed to execute their strategy of opening new and more profitable distribution channels.

Tiger Finance, a division of Tiger Capital Group, specializes in secured debt financing and equity investments. The company's approach, based on Asset Intelligence, involves providing first-lien, second-lien, and split-lien facilities structured as term debt, typically advanced against various assets such as working capital, machinery and equipment, fixtures, real estate, and intellectual property.

The Beachbody Company, originally known as Beachbody, has been innovating structured home fitness and nutrition programs for 25 years. Programs like P90X, Insanity, and 21-Day Fix, along with the premium superfood supplement Shakeology, have helped over 30 million customers achieve significant health and fitness goals.

This strategic move by Beachbody, supported by Tiger Finance and SG Credit Partners, is expected to position the company for greater profitability and long-term growth in the digital fitness and nutrition market.

References:
[1] https://www.prnewswire.com/news-releases/tiger-finance-provides-35-million-in-funding-for-the-beachbody-co-302477833.html
[2] https://www.stocktitan.net/news/BODI/tiger-finance-provides-35-million-in-funding-for-the-beachbody-6mrjyfm89ch3.html