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Interactive Strength Inc. (NASDAQ:TRNR) Provides Update on Sportstech Transaction
AUSTIN, TEXAS / ACCESS Newswire / December 29, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR, and FORME brands, today provided an update regarding ...
About this update from Interactive Strength Inc.
[{"type":"text","content":"AUSTIN, TEXAS / ACCESS Newswire / December 29, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR, and FORME brands, today provided an update regarding its previously announced, pending acquisition of, and working capital loan to, Sportstech Brands Holding GmbH ("Sportstech").","length":404,"tagName":"p"},{"type":"text","content":"CEO Comments on the Sportstech Transaction and Working Capital Loan","length":67,"tagName":"p"},{"type":"text","content":""We have a binding transaction agreement with Sportstech, as disclosed in February. Since then, we have spent significant time, money and effort undertaking diligence as well as finalizing the complete transaction documentation required to close. On top of this, we hired a CFO based in Europe and secured additional growth capital from a European debt sponsor who was ready to fund this month. We remain fully prepared to close on the acquisition of Sportstech on the terms negotiated and in our binding transaction agreement - as has been the case for months," said Trent Ward, Chief Executive Officer of Interactive Strength.","length":638,"tagName":"p"},{"type":"text","content":""Given all that, we are disappointed by Sportstech's sudden, public and misleading statement tonight, presumably as a tactic to further disrupt and delay what should be a straightforward closing process from here."","length":228,"tagName":"p"},{"type":"text","content":""We believe the timing of their unwarranted action is no coincidence, as TRNR provided Sportstech with critical working capital that materially improved its performance - a loan that comes due tomorrow, December 30th. As a reminder, TRNR advanced Sportstech $5.0M between January and July and is now owed approximately $6.6M, which is more than twice our market cap right now, and is structured to compensate TRNR for all of the transaction expenses incurred as well as offering us an attractive return on the underlying principal."","length":542,"tagName":"p"},{"type":"text","content":"Mr. Ward continued: "Because this borrowed capital is secured with all of Sportstech's shares and personally guaranteed by Sportstech's CEO, we plan to pursue all available remedies, should Sportstec...