Interactive Strength Inc (TRNR) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Interactive Strength Inc. has secured a financial boost by selling a $6 million Senior Secured Convertible Promissory Note and issuing 750,000 shares and warrants for up to 3 million shares of its common stock to Treadway Holdings LLC. The proceeds are funding the acquisition of CLMBR, Inc.’s assets. Additionally, the company has borrowed a $7.968 million term loan from Vertical Investors LLC, with a repayment schedule leading up to a June 2024 maturity. In parallel, previous agreements with another lender have been honored through a waiver, allowing these transactions, in exchange for stock and product offerings to the lender.
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For a comprehensive understanding of the announcement, you can read the full document here.
