Interactive Strength Inc. (Nasdaq:TRNR) Regains Full Compliance With Nasdaq Continued Listing Standards

Rhea-AI Summary

Interactive Strength Inc. (TRNR), maker of specialty fitness equipment under CLMBR and FORME brands, has announced its return to full compliance with Nasdaq's continued listing standards. The company received confirmation from Nasdaq Listings Qualifications that it has met the minimum bid price requirement of $1.00 under Rule 5550(a)(2). Additionally, TRNR has satisfied the requirement for Publicly Held Shares, maintaining over 500,000 shares with 625,067 shares outstanding as of their Q3 10-Q filing on November 14.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement ($1.00)
• Met the requirement of maintaining over 500,000 Publicly Held Shares (625,067 shares outstanding)
• Achieved full compliance with all Nasdaq listing standards

Negative

• None.

Insights

Financial Analyst

Regaining Nasdaq compliance is a important development that removes a significant overhang from TRNR's stock. The company has successfully addressed three major listing requirements: the $1.00 minimum bid price, stockholder's equity threshold and the 500,000 publicly held shares requirement. This triple compliance achievement strengthens TRNR's market position and eliminates the immediate risk of delisting.

For micro-cap companies like TRNR, with a market cap of just $2.4M, maintaining listing requirements is often challenging but essential for investor confidence and market accessibility. The restoration of full compliance should help stabilize the stock and potentially attract institutional investors who may have been hesitant due to listing concerns. However, the company must now focus on fundamental business growth to maintain these standards long-term.

AUSTIN, TX / ACCESSWIRE / December 10, 2024 / 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 Company received a letter from the Staff at Nasdaq Listings Qualifications stating that the Company has regained compliance with Listing Rule 5550(a)(2), which specifies rules regarding a minimum bid price of $1.00.

Trent Ward, Co-Founder and CEO of TRNR, said: "We are now in full compliance with Nasdaq continuing listing standards after receiving this most recent letter about bid price, which follows the compliance letter regarding Stockholder's Equity from a couple weeks ago. We hope we have put these compliance issues behind us permanently and look forward to a long and successful future on Nasdaq."

The Company also regained compliance with the requirement of having more than 500,000 Publicly Held Shares, as confirmed on November 14 with the filing of the Company's third quarter 10-Q, which reported 625,067 shares outstanding on that date.

TRNR Investor Contact

ir@interactivestrength.com

TRNR Media Contact

forme@jacktaylorpr.com

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 maintaining compliance with Nasdaq Listing Rules in the future, as well as the Company having a long and successful future on Nasdaq. 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 accesswire.com

FAQ

Has TRNR stock regained Nasdaq compliance in December 2024?

Yes, TRNR has regained full compliance with Nasdaq's continued listing standards, including the $1.00 minimum bid price requirement and the minimum of 500,000 Publicly Held Shares requirement.

How many shares does TRNR have outstanding as of Q3 2024?

According to TRNR's third quarter 10-Q filing, the company reported 625,067 shares outstanding.

What Nasdaq listing requirements did TRNR need to meet?

TRNR needed to meet Nasdaq Listing Rule 5550(a)(2) requiring a minimum bid price of $1.00, and maintain at least 500,000 Publicly Held Shares.