secwatch.observer — SEC 8-K summary
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Issuer:     Interactive Strength, Inc. (TRNR)
CIK:        0001785056
Form:       8-K
Filed at:   2025-02-05T23:59:59+00:00
Accession:  0000950170-25-014134
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Interactive Strength exchanges defaulted notes for $5.38M secured convertible notes due April/May 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785056/000095017025014134/0000950170-25-014134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785056/000095017025014134/trnr-20250204.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-014134

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer