Interactive Strength reduces warrant exercise price in new agreement

Interactive Strength Inc. (NASDAQ:TRNR), a company with a market capitalization of $10.65 million, announced this week that it entered into an inducement offer letter agreement with a holder of its warrants. According to a statement in a SEC filing, the agreement was signed Monday.

Under the terms of the agreement, the holder agreed to exercise 18,450 warrants at a reduced exercise price of $5.42 per share, which matches the Nasdaq official closing price from July 3. This represents a decrease from the original exercise price of $48.20 per share, which was adjusted following a 1-for-10 reverse stock split effective June 27. The warrants originally entitled the holder to purchase up to 67,427 shares of common stock, after reflecting the reverse split. The stock has shown significant volatility, with a notable 43.54% return over the past week, according to InvestingPro data.

Interactive Strength received exercise notices for the 18,450 warrants immediately upon execution of the inducement letter. The shares underlying these warrants have been registered for resale under an effective registration statement on Form S-1 (File No. 333-284788).

The company’s common stock is listed on The Nasdaq Stock Market LLC under the symbol TRNR. Interactive Strength is incorporated in Delaware and is based in Austin, Texas.

All information is based on a statement in a press release filed with the SEC.

In other recent news, Interactive Strength Inc. has completed its all-stock acquisition of Wattbike, a manufacturer of indoor performance training bikes. This acquisition, approved by the UK Financial Conduct Authority, will be reflected in the company’s third-quarter financial results. Concurrently, Interactive Strength announced a 1-for-10 reverse stock split to maintain compliance with Nasdaq’s minimum bid price requirement. The company also updated its investor FAQs to address questions about its AI-focused $FET Treasury strategy, which includes plans to invest up to $500 million in Fetch.ai tokens. Initial funding of $55 million has been secured from ATW Partners and DWF Labs. Furthermore, Interactive Strength issued a $725,000 convertible note to S Interactive LLC, with a maturity date set for June 2027. This financial agreement includes a 15% annual interest rate and conversion options into the company’s Series A Preferred Stock. These developments align with Interactive Strength’s ongoing efforts to expand its digital fitness services and financial flexibility.

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