Interactive Strength creates Series LTI Convertible Preferred Stock for officers and directors

Interactive Strength, Inc.

5,000,000 shares designated as Series LTI Convertible Preferred Stock; Original Issue Price $2.00 per share.
Conversion Price $1.06 per share; convertible at holder's option from June 6, 2026, subject to Nasdaq approval.
Dividends accrue at 10% of Original Issue Price compounded annually, payable only to eligible board members or executives.
Shares have no voting rights; if stockholder approval not obtained by June 6, 2026, company will redeem at Original Issue Price.
Issuable only to certain executive officers and non-executive directors; no public trading market expected.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Interactive Strength, Inc.: Filed Certificate of Designation of Series LTI Convertible Preferred Stock, designating 5,000,000 shares of preferred stock as Series LTI Convertible Preferred Stock with specified conversion, dividend, and redemption terms (effective 2025-06-06).

Change: charter amendment
Effective: 2025-06-06

Exact text from the filing

Interactive Strength Inc. (the “Company”) filed the Certificate of Designation of Series LTI Convertible Preferred Stock of Interactive Strength Inc. (the “LTI Certificate”) with the Secretary of State of the State of Delaware on June 6, 2025.

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Interactive Strength, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-085471

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