Interactive Strength Inc. (Nasdaq:TRNR) Successfully Concludes Hearings Panel Appeal and Confirms Demonstrated Compliance Letter for Continued Nasdaq Listing
Interactive Strength (NASDAQ:TRNR) has received confirmation of compliance with Nasdaq's Listing Rule 5550(b)(1), successfully concluding the Hearings Panel appeal process that began in May. The company reported Stockholder's Equity of $5.8 million for the third quarter, exceeding the minimum requirement of $2.5 million. CEO Trent Ward expressed confidence in maintaining compliance levels and focused on delivering the company's growth strategy, with potential positive developments expected before year-end.
Interactive Strength (NASDAQ:TRNR) ha ricevuto conferma della conformità con la Regola di Quotazione 5550(b)(1) di Nasdaq, concludendo con successo il processo di appello del Comitato per le Audizioni iniziato a maggio. L'azienda ha riportato un Capitale Proprio di $5.8 milioni per il terzo trimestre, superando il requisito minimo di $2.5 milioni. Il CEO Trent Ward ha espresso fiducia nel mantenere i livelli di conformità e si è concentrato sulla realizzazione della strategia di crescita dell'azienda, con potenziali sviluppi positivi attesi prima della fine dell'anno.
Interactive Strength (NASDAQ:TRNR) ha recibido confirmación de cumplimiento con la Regla de Listado 5550(b)(1) de Nasdaq, concluyendo con éxito el proceso de apelación del Panel de Audiencias que comenzó en mayo. La compañía reportó un Capital Propio de $5.8 millones para el tercer trimestre, superando el requisito mínimo de $2.5 millones. El CEO Trent Ward expresó confianza en mantener los niveles de cumplimiento y se enfocó en llevar adelante la estrategia de crecimiento de la empresa, con desarrollos positivos potenciales esperados antes de fin de año.
Interactive Strength (NASDAQ:TRNR)는 Nasdaq의 상장 규정 5550(b)(1) 준수를 확인받았으며, 5월에 시작된 청문 위원회 항소 절차를 성공적으로 마무리했습니다. 회사는 3분기에 주주 자본 580만 달러를 보고하여 최소 요구액인 250만 달러를 초과했습니다. CEO Trent Ward는 준수 수준을 유지할 수 있는 자신감을 표명했고, 회사의 성장 전략을 추진하는 데 집중하고 있으며, 연말 전 긍정적인 발전이 기대된다고 언급했습니다.
Interactive Strength (NASDAQ:TRNR) a reçu confirmation de sa conformité avec la règle de cotation 5550(b)(1) de Nasdaq, concluant avec succès le processus d'appel du panel d'audition débuté en mai. La société a rapporté un Capital Propre de 5,8 millions de dollars pour le troisième trimestre, dépassant l'exigence minimale de 2,5 millions de dollars. Le PDG Trent Ward a exprimé sa confiance dans le maintien des niveaux de conformité et s'est concentré sur la mise en œuvre de la stratégie de croissance de l'entreprise, avec des développements positifs potentiels attendus avant la fin de l'année.
Interactive Strength (NASDAQ:TRNR) hat die Bestätigung über die Einhaltung der Nasdaq-Listing-Regel 5550(b)(1) erhalten und den Berufungsprozess des Hearings Panels, der im Mai begann, erfolgreich abgeschlossen. Das Unternehmen berichtete von einem Eigenkapital von 5,8 Millionen Dollar im dritten Quartal, was die Mindestanforderung von 2,5 Millionen Dollar übersteigt. CEO Trent Ward äußerte Vertrauen in die Einhaltung der Standards und konzentrierte sich darauf, die Wachstumsstrategie des Unternehmens umzusetzen, wobei vor Jahresende mit positiven Entwicklungen gerechnet wird.
- Confirmed compliance with Nasdaq listing requirements
- Reported strong Stockholder's Equity of $5.8 million, exceeding $2.5 million requirement
- Mitigated delisting risk
- Previously faced potential delisting threat requiring appeals process
Insights
The successful resolution of TRNR's Nasdaq listing compliance issue marks a significant regulatory milestone. The company has demonstrated
The preservation of Nasdaq listing status is important for maintaining market liquidity, institutional investor access and overall market credibility. While this development stabilizes TRNR's listing status, investors should monitor future quarterly reports to ensure continued compliance with equity requirements. The company's hint at upcoming positive developments suggests potential strategic initiatives that could further strengthen their market position.
AUSTIN, TX / ACCESSWIRE / November 27, 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 confirming demonstrated compliance with Listing Rule 5550(b)(1) of The Nasdaq Stock Market, which successfully concludes the Hearings Panel appeal process that began in May.
Trent Ward, Co-Founder and CEO of TRNR, said: "We are excited to receive the confirmation that the Company demonstrated compliance with the Equity Rule and are very appreciative that the Hearings Panel agreed in August with our potential to regain compliance with the Equity Rule. We reported a Stockholder's Equity of
"We are very focused on delivering against our growth strategy and hope to be able to share some positive developments before the end of the year," Mr. Ward continued. "Achieving compliance with the Equity Rule of the Nasdaq Continued Listing standards was a critical achievement, and with this risk mitigated, we can fully concentrate on creating shareholder value."
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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 maintaining sufficient Stockholders' Equity levels or compliance with Nasdaq Listing Rules in the future, as well as the Company being able to deliver on its growth strategy or share positive business developments this year. 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
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