Interactive Strength exchanges $3.1M note for convertible securities

Interactive Strength Inc. (NASDAQ: TRNR) exchanged a $3.1 million senior secured convertible promissory note with Woodway USA Inc. for convertible securities with a lower principal amount, according to a company statement.

The company entered into an exchange agreement on September 26, 2025, converting the original Woodway Note into an Incremental Note with an aggregate principal amount of $2,174,866.67. The exchange reduced the outstanding debt by approximately $925,000.

As part of the transaction, Class B Incremental Warrants with the same aggregate principal amount of $2,174,866.67 were cancelled. The company had previously issued the original promissory note to Woodway USA before March 3, 2025.

The new Exchange Note carries a maturity date of January 30, 2026. Interactive Strength maintains the ability to issue up to $20 million in senior secured convertible notes through the exercise of Class B Incremental Warrants that were issued in January 2025.

The information is based on the company's regulatory disclosure statement.

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