Interactive Strength signs exclusive worldwide CLMBR distribution deal with WOODWAY; $7M initial order

Interactive Strength, Inc.

WOODWAY placed initial order for 2,150 CLMBR units, expected to generate >$7M net revenue for TRNR.
TRNR issued 800,000 warrants to WOODWAY at $1.25/share, exercisable for 10 years.
Agreement has a 5-year initial term, automatically renewable, with WOODWAY having right of first refusal.
TRNR reaffirms 2024 net revenue guidance of $15-20M, anchored by this deal.
Inventory of 2,200+ CLMBR units acquired earlier in February covers most of the purchase order.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Interactive Strength, Inc. entered into Exclusive Distribution Agreement with WOODWAY USA, INC. valued at up to approximately $7 million in net revenue from sale of 2,150 units; warrant to purchase 800,000 (effective 2024-02-20).

Action: entry
Agreement: supply
Counterparty: WOODWAY USA, INC.
Value: up to approximately $7 million in net revenue from sale of 2,150 units; warrant to purchase 800,000
Effective: 2024-02-20

Exact text from the filing

On February 20, 2024, Interactive Strength Inc., a Delaware corporation (the “Company”), entered into an Exclusive Distribution Agreement (the “Distribution Agreement”) with WOODWAY USA, INC. (the “Distributor”), a Wisconsin corporation, pursuant to which the Company granted to the Distributor the exclusive right to sell and distribute the Company’s CLMBR product anywhere in the world in the commercial market.

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Interactive Strength, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-020265

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