Interactive Strength announced a 1-for-7 reverse stock split, which will be effective on June 30.
- The firm noted that the reverse split is a part of its efforts to regain its compliance with Nasdaq’s $1.00 minimum bid requirement.
- As a result of this consolidation, Interactive Strength’s common outstanding shares will reduce to about 0.5 million shares from roughly 3.6 million shares.
- In February, the company announced a 1-for-10 reverse stock split.
Shares of Interactive Strength (TRNR) drew investor attention on Friday after the specialty fitness equipment maker announced its second stock consolidation this year.
Interactive said it would conduct a reverse stock split of its shares at a 1-for-7 ratio. The share consolidation will be effective on June 30, 2026.
TRNR’s Share Consolidation To Regain Nasdaq Compliance
The firm noted that the reverse split is a part of its efforts to regain its compliance with Nasdaq’s $1.00 minimum bid requirement.
As a result of this consolidation, Interactive Strength’s common outstanding shares will reduce to about 0.5 million shares from roughly 3.6 million shares. The reverse split was approved by the company’s stockholders at the annual meeting on June 8, and the board set the split ratio on June 18.
In February, the firm conducted its first reverse stock split at a 1-for-10 ratio. At that time, the number of outstanding shares was reduced to about 1.4 million from approximately 14.3 million.
What Does TRNR Do?
Interactive Strength operates fitness brands such as Wattbike, CLMBR, and FORME, and also works with Ergatta, a connected fitness company that introduced game-based rowing.
The company sells specialty fitness products and virtual training for the commercial and at-home markets in the U.S., Europe, and Asia.
The firm was incorporated in 2017 and is headquartered in Austin, Texas.
What Retail Thinks Of TRNR
On Stocktwits, retail sentiment surrounding the stock has remained ‘neutral’ amid ‘low’ message volumes in the past 24 hours.
TRNR stock has declined by more than 93% so far this year.
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