Interactive Strength, Inc. (TRNR): debt financing — Interactive Strength settles $3.96M legal debt with 12% promissory note due Oct 2025

Interactive Strength, Inc.

Settled $3,958,985.85 legal liability with Pillsbury via unsecured note maturing Oct 15, 2025, bearing 12% interest.
Conversion price of existing Amended Note lowered to $2.57; $1,212,400 converted into 471,750 shares.
Note transferred from Woodway to TR Opportunities II LLC; conversion and issuance exempt under Section 3(a)(9).
As of March 4, 2025, outstanding shares total 6,903,594 after conversions and prior issuances.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Interactive Strength, Inc. incurred loan of $3,958,985.85 with Pillsbury Winthrop Shaw Pittman LLP at 12% per annum maturing October 15, 2025.

Instrument: loan
Principal: $3,958,985.85
Counterparty: Pillsbury Winthrop Shaw Pittman LLP
Rate: 12% per annum
Maturity: October 15, 2025
Event: incurrence

Exact text from the filing

On March 5, 2025, the Company and the Recipient entered into a Settlement Agreement (the “Settlement Agreement”), pursuant to which the Company and the Recipient agreed to settle the Liability by issuing to the Recipient an unsecured promissory note in the principal amount of $3,958,985.85 (the “Settlement Note”). The Settlement Note has a maturity date of October 15, 2025 and accrues interest at a rate of 12% per annum.

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73 debt financings filed in the last 30 days. Browse all debt financings →

Interactive Strength, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-035695

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