Interactive Strength, Inc. (TRNR): debt financing — Interactive Strength raises up to $500M via convertible notes to acquire FET tokens; initial $55M closed

Interactive Strength, Inc.

Initial $55.5M principal convertible notes (10% OID, 12% interest) issued to ATW Partners and DWF Labs; net $50M proceeds.
94.5% ($47.25M) of net proceeds used to buy FET tokens for crypto treasury; 5.5% for expenses.
Notes convertible into common at $0.9457 (20% premium to $0.7881 close) or exchangeable into FET after 6 months.
Up to $444.4M additional notes available (total $500M facility); Fetch.ai provides $47.25M backstop FET collateral.
Company enters technology collaboration with Fetch.ai to power AI-driven fitness training platform.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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 convertible notes of $55,555,555 aggregate principal amount of Initial Notes, with an option for additional notes up to $444,444,445 with ATW Partners and DWF Labs at 12% per annum, subject to adjustment maturing 18 months from issuance.

Instrument: convertible notes
Principal: $55,555,555 aggregate principal amount of Initial Notes, with an option for additional notes up to $444,444,445
Counterparty: ATW Partners and DWF Labs
Rate: 12% per annum, subject to adjustment
Maturity: 18 months from issuance
Event: incurrence

Exact text from the filing

On June 10, 2025, Interactive Strength Inc. (the “Company”) and its wholly-owned subsidiary, Interactive Strength Treasury LLC (the “Treasury Subsidiary”), entered into that certain securities purchase agreement (the “Purchase Agreement”) with an entity affiliated with ATW Partners and an entity affiliated with DWF Labs (collectively, the “Investors”). Pursuant to the Purchase Agreement, the Company and the Treasury Subsidiary (collectively, the “Borrowers”) have agreed to sell, and the Investors have agreed to purchase, for $50 million (the “Initial Purchase Price”), senior secured convertible exchangeable notes issued by the Borrowers (the “Initial Notes”) in the aggregate principal amount of $55,555,555

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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 0000950170-25-084654

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