Interactive Strength signs binding deal to acquire Wattbike for £1 plus stock earn-out

Interactive Strength, Inc.

Acquires all shares of Wattbike for £1; noteholders receive Series E Preferred stock convertible to common by June 15, 2026.
Earn-out: 50% of FY26 revenue above £17.5M (cap £1.5M) and 50% of FY27 revenue above £20M (cap £1.5M).
Closing expected Q2 2025, subject to FCA consent and other customary conditions; terminates if not met by Sept 30, 2026.
Pro forma 2025 revenue >$65M; Wattbike has sold >100,000 bikes and is used by NFL, NBA, MLB, NHL, Premier League teams.
Synergies via shared distributors WOODWAY and MeFit Pro; manufacturing with Giant/AIPS in Taiwan.

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