Interactive Strength Inc. (NASDAQ:TRNR) announced on February 4, 2025, that it has entered into a definitive purchase agreement with an institutional investor to raise $2.9 million in working capital. This financing was secured through the sale of a senior secured convertible note.
The convertible note features a fixed conversion price set at a premium to the market price, along with various warrants. The note has a maturity date in January 2028.
This capital infusion provides crucial working capital to support TRNR's ongoing operations and strategic growth initiatives, demonstrating external investor confidence in the company's business model and future prospects.
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