Interactive Strength Inc. (Nasdaq:TRNR) Raises $3.6M in 3-year Notes from Existing Institutional Investor
Interactive Strength (TRNR) has secured an additional $3.6 million investment through senior secured convertible notes from an existing institutional investor. The notes, maturing in March 2028, feature a fixed conversion price at a 30% premium to the previous day's closing price, along with common warrants.
This investment follows a previous $2.9 million investment from the same investor, demonstrating their confidence in TRNR's growth and acquisition strategy. The company, known for its CLMBR and FORME fitness equipment brands, expects its ongoing acquisitions, including the Sportstech deal and recently announced LOI, to boost its pro forma 2025 revenue guidance beyond $50 million and improve operating results.
Both transactions are anticipated to close during the second quarter, with the company reporting good progress following months of due diligence.
Interactive Strength (TRNR) ha ottenuto un ulteriore investimento di 3,6 milioni di dollari attraverso note convertibili senior garantite da un investitore istituzionale esistente. Le note, in scadenza a marzo 2028, presentano un prezzo di conversione fisso con un premio del 30% rispetto al prezzo di chiusura del giorno precedente, insieme a warrant comuni.
Questo investimento segue un precedente investimento di 2,9 milioni di dollari da parte dello stesso investitore, dimostrando la loro fiducia nella strategia di crescita e acquisizione di TRNR. L'azienda, nota per i suoi marchi di attrezzature fitness CLMBR e FORME, si aspetta che le acquisizioni in corso, inclusa l'operazione con Sportstech e la recente LOI annunciata, aumenteranno la previsione di fatturato pro forma 2025 oltre i 50 milioni di dollari e miglioreranno i risultati operativi.
Entrambe le transazioni dovrebbero chiudersi durante il secondo trimestre, con l'azienda che riporta buoni progressi dopo mesi di due diligence.
Interactive Strength (TRNR) ha asegurado una inversión adicional de 3.6 millones de dólares a través de notas convertibles senior garantizadas de un inversor institucional existente. Las notas, que vencen en marzo de 2028, cuentan con un precio de conversión fijo con un 30% de prima sobre el precio de cierre del día anterior, junto con warrants comunes.
Esta inversión sigue a una inversión previa de 2.9 millones de dólares del mismo inversor, demostrando su confianza en la estrategia de crecimiento y adquisición de TRNR. La empresa, conocida por sus marcas de equipos de fitness CLMBR y FORME, espera que sus adquisiciones en curso, incluida la operación con Sportstech y la reciente LOI anunciada, impulsen su guía de ingresos pro forma 2025 más allá de los 50 millones de dólares y mejoren los resultados operativos.
Se anticipa que ambas transacciones se cierren durante el segundo trimestre, con la empresa reportando buenos avances tras meses de debida diligencia.
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Interactive Strength (TRNR) a sécurisé un investissement supplémentaire de 3,6 millions de dollars par le biais de billets convertibles senior garantis d'un investisseur institutionnel existant. Les billets, arrivant à échéance en mars 2028, présentent un prix de conversion fixe avec une prime de 30 % par rapport au prix de clôture de la veille, ainsi que des bons de souscription ordinaires.
Ce nouvel investissement fait suite à un précédent investissement de 2,9 millions de dollars de ce même investisseur, démontrant sa confiance dans la stratégie de croissance et d'acquisition de TRNR. L'entreprise, connue pour ses marques d'équipements de fitness CLMBR et FORME, s'attend à ce que ses acquisitions en cours, y compris l'accord avec Sportstech et la récente LOI annoncée, augmentent sa prévision de revenus pro forma pour 2025 au-delà de 50 millions de dollars et améliorent les résultats opérationnels.
Les deux transactions devraient être finalisées au cours du deuxième trimestre, l'entreprise signalant de bons progrès après des mois de diligence raisonnable.
Interactive Strength (TRNR) hat eine zusätzliche Investition in Höhe von 3,6 Millionen Dollar durch senior gesicherte wandelbare Anleihen von einem bestehenden institutionellen Investor gesichert. Die Anleihen, die im März 2028 fällig werden, verfügen über einen festen Umwandlungspreis mit einer Prämie von 30 % gegenüber dem Schlusskurs des Vortages sowie über gewöhnliche Warrants.
Diese Investition folgt einer vorherigen Investition in Höhe von 2,9 Millionen Dollar von demselben Investor, was ihr Vertrauen in die Wachstums- und Akquisitionsstrategie von TRNR demonstriert. Das Unternehmen, bekannt für seine Fitnessgeräte-Marken CLMBR und FORME, erwartet, dass die laufenden Akquisitionen, einschließlich des Sportstech-Deals und des kürzlich angekündigten LOI, die Pro-forma-Umsatzprognose für 2025 auf über 50 Millionen Dollar steigern und die Betriebsergebnisse verbessern werden.
Beide Transaktionen sollen im zweiten Quartal abgeschlossen werden, wobei das Unternehmen nach monatelanger Due Diligence gute Fortschritte meldet.
- Secured additional $3.6M investment from existing investor
- Favorable conversion terms at 30% premium to market price
- Expected revenue growth beyond $50M for 2025
- Acquisitions anticipated to be accretive to operating results
- Strong investor confidence demonstrated through repeated investments
- Additional debt burden with new convertible notes
- Potential future dilution from convertible notes and warrants
- Dependency on successful closure of pending acquisitions
Latest investment follows previously-announced investment in TRNR of
Company looks forward to appearing at this week's HFA Summit in Las Vegas
AUSTIN, TEXAS / ACCESS Newswire / March 12, 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 the previously-announced institutional investor has exercised its option to invest an additional
TRNR highlights that the institutional investor purchasing the note has again expressed support for the Company's M&A strategy and execution, including both the Sportstech deal and the exclusivity agreement and LOI announced last week, and the Company believes that it will benefit from further investment from this financial partner if there is a need for additional capital. The closing of both transactions is expected to increase the existing guidance of generating more than
For information, please see TRNR's investor website. For more commentary, information and details of TRNR's strategy, including its Sportstech acquisition, see TRNR's investor deck on the Company's investor website as well as its required filings with the SEC.
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 referenced transactions, the financial performance of those acquisitions and the resulting guidance of being accretive to earnings and more than
Contact Information
John McNamara
IR
john@tradigitalir.com
917-658-2602
SOURCE: Interactive Strength Inc.
View the original press release on ACCESS Newswire
FAQ
What are the terms of TRNR's new $3.6 million convertible notes?
How much has the institutional investor invested in TRNR in total?
What is TRNR's projected revenue for 2025?
When does TRNR expect to close its pending acquisitions?
