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AUSTIN, TX / ACCESSWIRE / November 27, 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 confirming demonstrated compliance with Listing Rule 5550(b)(1) of The Nasdaq Stock Market, which successfully concludes the Hearings Panel appeal process that began in May.
Trent Ward, Co-Founder and CEO of TRNR, said: "We are excited to receive the confirmation that the Company demonstrated compliance with the Equity Rule and are very appreciative that the Hearings Panel agreed in August with our potential to regain compliance with the Equity Rule. We reported a Stockholder's Equity of $5.8 million for the third quarter, well in excess of the $2.5 million minimum level, and are confident that the Company will maintain sufficient levels in the future."
"We are very focused on delivering against our growth strategy and hope to be able to share some positive developments before the end of the year," Mr. Ward continued. "Achieving compliance with the Equity Rule of the Nasdaq Continued Listing standards was a critical achievement, and with this risk mitigated, we can fully concentrate on creating shareholder value."
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About 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 and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.