Interactive Strength Inc. (Nasdaq:TRNR) Raises $2.9 Million From New Institutional Investor
Interactive Strength (TRNR), maker of CLMBR and FORME fitness equipment, has secured $2.9 million in working capital through a senior secured convertible note agreement with an institutional investor. The note features a fixed conversion price above market rate and includes various warrants, with maturity set for January 2028.
The institutional investor expressed support for TRNR's M&A strategy, particularly regarding the company's previously announced Letter of Intent to acquire a $40 million connected fitness and exercise equipment business. TRNR reports making progress on finalizing this definitive agreement and notes that the new funding will support both this potential acquisition and other opportunities.
Interactive Strength (TRNR), produttore di attrezzature fitness CLMBR e FORME, ha ottenuto 2,9 milioni di dollari in capitale di lavoro tramite un accordo di nota convertibile senior garantita con un investitore istituzionale. La nota presenta un prezzo di conversione fisso superiore al tasso di mercato e include vari warrant, con scadenza fissata per gennaio 2028.
L'investitore istituzionale ha espresso supporto per la strategia M&A di TRNR, in particolare riguardo alla Letter of Intent precedentemente annunciata per acquisire un business di attrezzature fitness e per esercizi connessi da 40 milioni di dollari. TRNR riporta progressi nella finalizzazione di questo accordo definitivo e osserva che il nuovo finanziamento supporterà sia questa potenziale acquisizione che altre opportunità.
Interactive Strength (TRNR), fabricante de equipos de fitness CLMBR y FORME, ha asegurado 2,9 millones de dólares en capital de trabajo a través de un acuerdo de nota convertible senior garantizada con un inversor institucional. La nota presenta un precio de conversión fijo por encima de la tasa de mercado e incluye varios warrants, con vencimiento programado para enero de 2028.
El inversor institucional expresó su apoyo a la estrategia de fusiones y adquisiciones de TRNR, en particular con respecto a la Carta de Intención previamente anunciada para adquirir un negocio de equipos de fitness y ejercicio conectados por 40 millones de dólares. TRNR informa que ha avanzado en la finalización de este acuerdo definitivo y señala que el nuevo financiamiento respaldará tanto esta posible adquisición como otras oportunidades.
Interactive Strength (TRNR), CLMBR 및 FORME 피트니스 장비의 제조업체, 기관 투자자와의 선순위 전환 사채 계약을 통해 290만 달러의 운영 자본을 확보했습니다. 이 사채는 시장 가격 이상의 고정 전환 가격을 특징으로 하며 여러 워런트를 포함하고 있으며, 만기는 2028년 1월로 설정되어 있습니다.
기관 투자자는 TRNR의 M&A 전략, 특히 회사의 이전에 발표된 의향서에 명시된 4000만 달러 규모의 연결된 피트니스 및 운동 장비 사업 인수에 대한 지원을 표명했습니다. TRNR은 이 확정 계약의 마무리를 진행 중이며, 새로운 자금 지원이 이 잠재적 인수와 다른 기회를 지원할 것이라고 보고하고 있습니다.
Interactive Strength (TRNR), fabricant d'équipements de fitness CLMBR et FORME, a sécurisé 2,9 millions de dollars en capital de travail grâce à un accord de note convertible senior garantie avec un investisseur institutionnel. La note présente un prix de conversion fixe supérieur au taux du marché et comprend plusieurs bons de souscription, avec une échéance fixée à janvier 2028.
L'investisseur institutionnel a exprimé son soutien à la stratégie de fusions et acquisitions de TRNR, notamment en ce qui concerne la Lettre d'Intention précédemment annoncée pour acquérir une entreprise d'équipements de fitness et d'exercice connectés de 40 millions de dollars. TRNR rapporte des progrès dans la finalisation de cet accord définitif et note que le nouveau financement soutiendra à la fois cette acquisition potentielle et d'autres opportunités.
Interactive Strength (TRNR), Hersteller von CLMBR und FORME Fitnessgeräten, hat 2,9 Millionen Dollar Betriebskapital durch eine vorrangige gesicherte wandelbare Anleihevereinbarung mit einem institutionellen Investor sichergestellt. Die Anleihe bietet einen festen Umwandlungspreis über dem Marktniveau und beinhaltet verschiedene Warrants mit einer Fälligkeit bis Januar 2028.
Der institutionelle Investor erklärte seine Unterstützung für die M&A-Strategie von TRNR, insbesondere in Bezug auf das zuvor angekündigte Letter of Intent zur Übernahme eines 40 Millionen Dollar schweren Unternehmens für vernetzte Fitness- und Trainingsgeräte. TRNR berichtet von Fortschritten bei der Finalisierung dieser endgültigen Vereinbarung und merkt an, dass die neue Finanzierung sowohl diese potenzielle Übernahme als auch andere Möglichkeiten unterstützen wird.
- Secured $2.9M in working capital through convertible note
- Fixed conversion price set at premium to market price
- Progress on potential $40M fitness business acquisition
- Extended maturity date until January 2028
- Additional debt burden through convertible note
- Potential future dilution for shareholders upon note conversion
Insights
This
First, the premium conversion price structure indicates the institutional investor's belief in TRNR's growth trajectory, as they're willing to accept a conversion price above current market levels. This typically signals positive sentiment about the company's future prospects.
Second, the timing aligns with TRNR's broader M&A strategy, particularly regarding their Letter of Intent to acquire a
The strategic implications are significant:
- The institutional backing validates TRNR's business model and M&A strategy
- The secured nature of the note suggests prudent risk management while maintaining flexibility
- The warrant component provides additional upside potential for the investor while creating a vested interest in TRNR's success
However, investors should note that convertible instruments can lead to future dilution, though the premium conversion price helps mitigate this concern. The secured nature of the note also places these obligations senior to existing equity holders in the capital structure.
AUSTIN, TEXAS / ACCESS Newswire / February 4, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that it had entered into a definitive purchase agreement with an institutional investor to raise
TRNR notes that the institutional investor purchasing the note expressed enthusiasm for the Company's stated M&A strategy as well as its previously announced LOI to acquire a
The financing agreement is detailed in full in the 8-K filed last night with the US Securities & Exchange Commission. For information, please see TRNR's investor website.
TRNR Investor Contact
TRNR Media Contact
About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol:TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
Forward Looking Statements:
This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of acquiring future businesses or completing the existing letter of intent that was referenced. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.
Contact Information
John McNamara
IR
john@tradigitalir.com
917-658-2602
SOURCE: Interactive Strength Inc.
View the original press release on ACCESS Newswire
FAQ
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