05:59 PM EDT, 04/08/2024 (MT Newswires) -- Beachbody ( BODI ) said late Monday it amended certain financial covenants and other terms of its original $50 million term loan with Blue Torch Capital.

The modified terms lower the quarterly revenue floor to $100 million per quarter through Dec. 31 and then to $110 million a quarter for the subsequent periods, Beachbody ( BODI ) Chief Executive Carl Daikeler said.

The health and fitness company said it is paying down $4 million in debt as part of the amendment, lowering the outstanding balance to $25.5 million. Beachbody ( BODI ) said the minimum liquidity covenant will be reduced by the same amount, to $18 million.

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