Business
Interactive Strength Inc. (Nasdaq: TRNR) Wins Appeal for Continued Nasdaq Listing
AUSTIN, TX / ACCESSWIRE / August 12, 2024 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment
About this update from Interactive Strength Inc.
[{"type":"text","content":"AUSTIN, TX / ACCESSWIRE / August 12, 2024 / Interactive Strength Inc. (Nasdaq:TRNR) (\"TRNR\" or \"the Company\"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that the Company received a letter stating that the Nasdaq Hearings Panel has granted the Company's request for continued listing on the Nasdaq Stock Market.As of March 31, 2024, the Company was not in compliance with Listing Rule 5550(b)(1) (the \"Equity Rule\") which specifies a minimum stockholders' equity of $2.5 million. The Company received a delisting letter from Nasdaq on May 22, 2024, that outlined various options. The Company appealed the delisting and participated in a hearing on this matter on July 16, 2024. As a result of this hearing, the Panel has determined to grant the Company an exception until November 14, 2024 to demonstrate compliance with the Equity Rule.Trent Ward, Co-Founder and CEO of TRNR, said: \"We are pleased that the Hearings Panel agreed with our potential to regain compliance with the Equity Rule when we report our third quarter earnings in November and we look forward to achieving that target. As a starting point and an indication of our confidence in achieving compliance, we are proud to share that we would have been in compliance with the Equity Rule for the quarter that ended on June 30th on a pro forma basis, when including our equity offering that closed on July 2nd.\"TRNR Investor [email protected] Media [email protected] Interactive Strength Inc.:Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience an...