8-K
filed February 5, 2025, 6:59 PM ET
ticker TRNR
CIK 0001785056
debt
confidence high
sentiment negative
materiality 0.80
Interactive Strength, Inc. (TRNR): debt financing — Interactive Strength exchanges defaulted notes for $5.38M secured convertible notes due April/May 2025
Interactive Strength, Inc.
- Company exchanged $5,380,341 in defaulted promissory notes for new secured convertible notes with 5% interest and $2.04/share conversion price.
- Maturity dates: Exchange Notes 2,4,5 due April 4, 2025; Notes 1 and 3 due May 5, 2025.
- Original notes were from 2019-2021 with former principal stockholder; assigned to TR Opportunities II LLC.
- Company was in default on old notes and prior settlement agreement; exchange executed under Section 3(a)(9) exemption.
- New notes are secured and convertible into common stock, potentially diluting existing shareholders.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Interactive Strength, Inc. incurred debt of $362,350 with Investor at 5% per annum maturing April 4, 2025.
- Principal
- $362,350
- Counterparty
- Investor
- Rate
- 5% per annum
- Maturity
- April 4, 2025
- Event
- incurrence
Exact text from the filing
• Exchange Note 2 principal amount: $1,552,067 • Exchange Note 3 principal amount: $274,281 • Exchange Note 4 principal amount: $371,813 • Exchange Note 5 principal amount: $362,350 The Exchange Notes accrue interest at a rate of 5% per annum, subject to adjustment from time to time as set forth in the Exchange Notes. The maturity date of Exchange Note 1 and
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Interactive Strength, Inc. incurred debt of $371,813 with Investor at 5% per annum maturing April 4, 2025.
- Principal
- $371,813
- Counterparty
- Investor
- Rate
- 5% per annum
- Maturity
- April 4, 2025
- Event
- incurrence
Exact text from the filing
• Exchange Note 1 principal amount: $2,819,830 • Exchange Note 2 principal amount: $1,552,067 • Exchange Note 3 principal amount: $274,281 • Exchange Note 4 principal amount: $371,813 • Exchange Note 5 principal amount: $362,350 The Exchange Notes accrue interest at a rate of 5% per annum, subject to adjustment from time to time as set forth in the Exchange
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Interactive Strength, Inc. incurred debt of $274,281 with Investor at 5% per annum maturing May 5, 2025.
- Principal
- $274,281
- Counterparty
- Investor
- Rate
- 5% per annum
- Maturity
- May 5, 2025
- Event
- incurrence
Exact text from the filing
amounts of the Exchange Notes are as follows: • Exchange Note 1 principal amount: $2,819,830 • Exchange Note 2 principal amount: $1,552,067 • Exchange Note 3 principal amount: $274,281 • Exchange Note 4 principal amount: $371,813 • Exchange Note 5 principal amount: $362,350 The Exchange Notes accrue interest at a rate of 5% per annum, subject to adjustment from
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Interactive Strength, Inc. incurred debt of $2,819,830 with Investor at 5% per annum maturing May 5, 2025.
- Principal
- $2,819,830
- Counterparty
- Investor
- Rate
- 5% per annum
- Maturity
- May 5, 2025
- Event
- incurrence
Exact text from the filing
and Note 5 was exchanged for “Exchange Note 5”. Description of the Exchange Notes The principal amounts of the Exchange Notes are as follows: • Exchange Note 1 principal amount: $2,819,830 • Exchange Note 2 principal amount: $1,552,067 • Exchange Note 3 principal amount: $274,281 • Exchange Note 4 principal amount: $371,813 • Exchange Note 5 principal amount:
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Interactive Strength, Inc. incurred debt of $1,552,067 with Investor at 5% per annum maturing April 4, 2025.
- Principal
- $1,552,067
- Counterparty
- Investor
- Rate
- 5% per annum
- Maturity
- April 4, 2025
- Event
- incurrence
Exact text from the filing
Description of the Exchange Notes The principal amounts of the Exchange Notes are as follows: • Exchange Note 1 principal amount: $2,819,830 • Exchange Note 2 principal amount: $1,552,067 • Exchange Note 3 principal amount: $274,281 • Exchange Note 4 principal amount: $371,813 • Exchange Note 5 principal amount: $362,350 The Exchange Notes accrue interest at a rate
View on SEC.gov
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