Interactive Strength Inc. (NASDAQ:TRNR) announced on March 12, 2025, that an existing institutional investor has exercised its option to invest an additional $3.6 million into the company. This investment is through the purchase of senior secured convertible notes.
The notes feature a fixed conversion price set at a 30% premium to the previous day's closing price, along with plain-vanilla common warrants. The maturity date for these notes is March 2028.
This follow-on investment reflects the investor's increased enthusiasm for TRNR's growth and acquisition strategy, including the recently announced Letter of Intent. It provides further capital to support the company's expansion plans.
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