FORME (TRNR) Announces 1:100 Reverse Share Split

Split Becomes Effective Monday, November 11, 2024

Shareholder- and Board-Approved Action Reduces Shares Outstanding to 313,235 from 31 Million, Ensures Continued Compliance with Nasdaq Listing Requirements

Interactive Strength Inc. (NASDAQ: TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-100. The reverse stock split will become effective on November 11, 2024, and the Company's common stock will begin trading on a post-split basis at the market open on November 11, 2024, under the Company's existing trading symbol "TRNR", with the new CUSIP number, 45840Y302. The reverse stock split is part of the Company's plan to regain compliance with the minimum bid price requirement of $1.00 per share required to maintain continued listing on The Nasdaq Capital Market, among other benefits.

The reverse stock split range was approved by the Company's stockholders at the Company's Special Meeting of Stockholders held on August 30, 2024, at the discretion of the Company's Board of Directors. The final ratio was approved by the Company's Board on October 31, 2024.

The reverse stock split reduces the number of shares of the Company's outstanding common stock to approximately 313,235 shares from approximately 31 million shares. As a result of the reverse stock split, proportionate adjustments will be made to the number of shares of the Company's common stock underlying the Company's outstanding preferred stock, equity awards and warrants and the number of shares issuable under the Company's equity incentive plans and other existing agreements, as well as the conversion or exercise price, as applicable. There will be no change to the number of authorized shares or the par value per share of the Company's common stock.

Information for TRNR Stockholders

As a result of the reverse stock split, every one hundred pre-split shares of common stock outstanding will become one share of common stock. The Company's transfer agent, Equiniti Trust Company, LLC, will serve as the exchange agent for the reverse stock split.

Registered stockholders holding pre-split shares of the Company's common stock electronically in book-entry form are not required to take any action to receive post-split shares. Those stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted to reflect the reverse stock split, subject to each broker's particular processes, and will not be required to take any action in connection with the reverse stock split.

Stockholders holding shares of the Company's common stock in certificate form will have their holdings of the Company's common stock automatically adjusted to reflect the reverse stock split.

No fractional shares will be issued in connection with the reverse stock split. Stockholders who otherwise would be entitled to receive fractional shares will receive an additional share for each fraction of a share they hold.

TRNR Investor Contact

[email protected]

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