---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-084654"
form_type: "8-K"
ticker: "TRNR"
cik: "0001785056"
company_name: "Interactive Strength, Inc."
filed_at: "2025-06-11T23:59:59+00:00"
generated_at: "2026-05-19T13:41:19.972213+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Interactive Strength raises up to $500M via convertible notes to acquire FET tokens; initial $55M closed

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-084654
- form_type: 8-K
- ticker: TRNR
- cik: 0001785056
- company_name: Interactive Strength, Inc.
- filed_at: 2025-06-11T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1785056/000095017025084654/0000950170-25-084654-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1785056/000095017025084654/trnr-20250610.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-084654
- JSON: https://secwatch.observer/filing/0000950170-25-084654.json
- Plain text: https://secwatch.observer/filing/0000950170-25-084654.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1785056/000095017025084654/0000950170-25-084654-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.