Falcon's Beyond Global, Inc. - FBYD STOCK NEWS

Falcon's Beyond Global (NASDAQ: FBYD) has established its Advisory Board with Mike Hightower, former president of Universal Creative, as its first Strategic Advisor. Hightower, with 30+ years of experience in theme park development, will provide strategic guidance for Falcon's theme park ventures, advise on acquisitions, assist with client relations, and enhance industry networking. The company is currently involved in several major projects, including a joint venture with K11 Group for sea life experiences in China, a global licensing agreement with Hershey, and collaboration with Tanseisha Co. for Japanese anime-themed entertainment experiences.

Falcon's Beyond Global (Nasdaq: FBYD) has announced a stock dividend and the cancellation of performance-based earnout shares. The company will issue a stock dividend of 0.2 shares of Class A common stock per share, payable on December 17, 2024, to holders of record as of December 10, 2024. This move is expected to result in the issuance of approximately 2.0 million Class A shares and 11.5 million Class B shares.

Additionally, Falcon's Beyond has forfeited and cancelled 17.5 million performance-based earnout shares to reduce company liabilities and simplify its balance sheet. The company also appointed Gino P. Lucadamo to the Audit Committee. These actions aim to optimize the company's capital structure and enhance shareholder value as Falcon's approaches its first anniversary as a publicly listed company on Nasdaq.

Falcon's Beyond Global, Inc. (Nasdaq: FBYD) reported its Q2 2024 financial results, showing positive growth across its divisions. The company's consolidated revenue was $1.8 million. Notably, Falcon's Creative Group (FCG), an unconsolidated subsidiary, saw a 202% increase in revenue to $15.7 million. The joint venture Producciones de Parques (PDP) also increased revenue to $11.3 million.

FCG's operating income reached $2.3 million, with Falcon's Beyond's share at $1.0 million. PDP's income from operations grew to $1.6 million. The company's consolidated net income improved significantly, increasing by $16.8 million to $8.0 million. Adjusted EBITDA also saw a $6.5 million increase to ($1.9 million).

Falcon's Beyond Global, Inc. (Nasdaq: FBYD), a leader in innovative storytelling through its Creative Group, Destinations, and Brands divisions, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event will take place on Tuesday, August 13, 2024, at the InterContinental Boston Hotel.

Simon Philips, President of Falcon's Beyond, will engage in a fireside chat with Jason Tilchen, Canaccord Senior Research Analyst, at 8:30 a.m. ET. Philips will also be available for one-on-one meetings throughout the conference day. Interested parties can contact ICR or their Canaccord Genuity representative to schedule a meeting with Simon Philips.

Falcon's Beyond Global (Nasdaq: FBYD) has promoted Bruce A. Brown to Chief Legal Officer & Corporate Secretary. Brown, previously the Executive Vice President of Legal, General Counsel & Corporate Secretary, has over 20 years of legal expertise and will continue to advise on legal, compliance, risk management, and government relations. This promotion comes as Falcon's Beyond experiences significant growth, with projects including the world’s first Dragon Ball theme park and Saudi Arabia’s first water theme park, Aquarabia. Brown's previous roles include senior positions at Hilton Grand Vacations, Tupperware Brands, and Darden Restaurants.

Falcon's Beyond Global (Nasdaq: FBYD) reported its Q1 2024 results, showcasing consolidated revenue of $1.5 million. Falcon's Creative Group (FCG), its unconsolidated subsidiary, saw an 87% increase in revenue to $14.9 million. Producciones de Parques, a 50:50 joint venture, reported $7.5 million in revenue, a rise of $1.2 million. The company recognized substantial gains in net income, reaching $114 million compared to a loss of $9.9 million in Q1 2023, driven by a $118.6 million gain from earnout liabilities. Adjusted EBITDA showed improvement, moving from $(8.0) million to $(4.5) million due to reduced SG&A expenses.

Key highlights include a partnership with The Hershey Company for new entertainment attractions and master planning a Dragon Ball theme park in Saudi Arabia. The company also entered an agreement with Tanseisha Co. for themed entertainment experiences and launched Falcon’s Attractions Systems & Technologies to sell rides globally. Falcon’s Beyond remains focused on expanding its IP and leveraging strategic partnerships to drive growth.

Falcon's Beyond Global, Inc. (FBYD) filed its 2023 Annual Report on Form 10-K, regaining compliance with Nasdaq Listing Rule 5250(c)(1). The filing is available on the company's investor relations website and the SEC's website. This is the first Annual Report since the business combination with FAST Acquisition Corp. II in October 2023.

Falcon’s Beyond Global, Inc. (Nasdaq: FBYD, FBYDW) received a notice from Nasdaq due to a delayed Annual Report filing. The Company has until June 17, 2024, to submit a plan to regain compliance and may have until October 14, 2024, to comply. Falcon’s Beyond is working to finalize the Form 10-K and regain compliance with Nasdaq rules.

Falcon’s Creative Group, a division of Falcon’s Beyond Global, Inc., has been selected to design and develop the first-ever Dragon Ball theme park in Qiddiya City, Saudi Arabia. The park will span over 500,000 square meters and feature seven themed lands based on iconic locations from the Dragon Ball series. Falcon’s Creative Group will oversee the creative aspects of the project, including state-of-the-art rides, themed restaurants, and hotels. The park aims to immerse guests in the world of Dragon Ball from the original series to Dragon Ball Super.