Interactive Strength Inc (TRNR) has released an update to notify the public and investors about its asset transaction finalization.
In a strategic move to expand its asset base, the Company finalized the acquisition of nearly all assets of CLMBR, Inc, and CLMBR1, LLC for around $15.4 million. The deal, which included issuing common and preferred stock along with assuming and retiring debt, also features potential additional stock payouts based on 2024 sales performance. These transactions were structured under specific exemptions, with the common stock issued restricted until October 2024 and the preferred stock contingent on indemnification terms over a two-year period post-closing.
For further insights into TRNR financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
