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Interactive Strength Inc. (NASDAQ:TRNR) held its annual meeting of shareholders Friday at its Austin, Texas headquarters, according to a statement released in a SEC filing. Shareholders voted on seven proposals outlined in the company’s proxy statement filed August 18.
Of the 1,519,418 shares of common stock eligible to vote as of July 29, 700,271 shares were represented at the meeting, constituting a quorum.
Shareholders approved the election of Aaron N.D. Weaver as a Class II director. Weaver will serve until the 2028 annual meeting or until a successor is elected. The vote tally for this proposal was 128,273 in favor, 11,811 against, and 3,273 abstentions, with 556,914 broker non-votes.
The appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025 was also ratified. Votes were 681,465 in favor, 2,464 against, and 16,342 abstentions.
A proposal to approve, for Nasdaq purposes, the potential issuance of 20% or more of outstanding common stock in connection with the Wattbike (Holdings) Limited acquisition was not approved. The vote was 61,667 for, 77,908 against, and 3,782 abstentions.
Shareholders did not approve a proposal to issue 20% or more of outstanding common stock upon conversion of Series LTI Convertible Preferred Stock to executive officers and directors, with 62,838 for, 78,063 against, and 2,456 abstentions.
The board was granted authority to effect one or more reverse stock splits of the company’s common stock at a ratio from 1-for-4 up to 1-for-100, to be completed no later than the first anniversary of the record date. The vote was 467,662 in favor, 231,837 against, and 772 abstentions.
An advisory vote on executive compensation was approved, with 116,692 for, 23,601 against, and 3,064 abstentions. For the advisory vote on the frequency of future votes on executive compensation, “three years” received the highest number of votes.
All information is based on a statement from Interactive Strength Inc. filed with the Securities and Exchange Commission. According to InvestingPro data, the company currently maintains a weak financial health score of 1.64, with negative gross profit margins and challenges in meeting short-term obligations. For deeper insights into Interactive Strength’s financial metrics and growth potential, investors can access over 15 additional ProTips and comprehensive financial analysis through InvestingPro’s premium features.
In other recent news, Interactive Strength Inc. has completed its all-stock acquisition of Wattbike, an indoor performance training bike manufacturer. This transaction was finalized after receiving approval from the UK Financial Conduct Authority and meeting all material conditions outlined in the agreement signed in April. The acquisition will be reflected in Interactive Strength’s third-quarter financial results. Additionally, the company announced a new agreement concerning its warrants. Under this agreement, a warrant holder agreed to exercise 18,450 warrants at a reduced price of $5.42 per share, down from the original price of $48.20 per share. This adjustment follows a 1-for-10 reverse stock split that took effect in late June.
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