TRNR converts $3M senior loan to equity, extends remaining $4.96M maturity to Dec 2024

Interactive Strength, Inc.

Converted $3M of $7.97M senior loan into Series A Preferred Stock; outstanding principal now $4.96M.
Extended maturity of remaining loan balance to December 2024.
Monthly interest payment set at $60k; mandatory principal payments equal to greater of $3M or 20% of net capital raise.
Restoration agreement: Company guarantees $3M net proceeds from preferred sale by Dec 31 2024; excess over $3.1M split to lender and fees.
CEO expects approaching profitability by Q4 2024 based on CLMBR acquisition.

item 1.01 item 9.01

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. amended Loan Modification Agreement with Vertical Investors, LLC (effective 2024-04-24).

Action: amendment
Agreement: credit facility
Counterparty: Vertical Investors, LLC
Effective: 2024-04-24

Exact text from the filing

On April 24, 2024 (the “Effective Date”), the Company entered into a Loan Modification Agreement with the Lender (the “Modification Agreement”).

View on SEC.gov

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

Interactive Strength, Inc. entered into Loan Restoration Agreement with Vertical Investors, LLC (effective 2024-04-24).

Action: entry
Counterparty: Vertical Investors, LLC
Effective: 2024-04-24

Exact text from the filing

(the "Company") entered into a Credit Agreement (the “Credit Agreement”) with Vertical Investors, LLC (the “Lender”), pursuant to which the Company received a term loan from the Lender in the original principal amount of $7,968,977.74 (the “Loan”).

View on SEC.gov

246 material agreements filed in the last 30 days. Browse all material agreements →

Interactive Strength, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-049297

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.