Interactive Strength Inc. Strikes Major Financing Deals
Company Announcements

Interactive Strength Inc. Strikes Major Financing Deals

Interactive Strength Inc (TRNR) has released an update to notify the public and investors about an entry into a material definitive agreement.

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.

For further insights into TRNR stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.

Related Articles
Sheryl ShethUpcoming Stock Splits This Week (November 11 to November 15) – Stay Invested
TheFlyInteractive Strength Inc trading halted, news pending
TheFlyInteractive Strength announces 1-for-100 reverse stock split
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App