Financing ·
Exchanges $7.69M in convertible notes for Series R Preferred Stock; Wattbike secures £1.38M refinancing
TRNRInteractive Strength, Inc.
Interactive Strength exchanged $7,685,090 of outstanding unsecured convertible notes for 768,509 shares of newly designated Series R Convertible Preferred Stock with a $10 stated value and a conversion price of $2.83 per share. Concurrently, subsidiary Wattbike completed the refinancing of its working capital facility by repaying the prior lender in full and entering into new agreements for up to £1,375,000 (approximately $1,825,200) in aggregate financing. This includes a £625,000 term loan repayable over 24 months, an invoice discounting facility of £750,000, and a master loan agreement for inventory purchases up to £750,000. The company operates in the fitness technology sector.