Interactive Strength Inc. to Raise $500 Million for FET Token Acquisition

Interactive Strength Inc. (Nasdaq: TRNR), a company known for its innovative specialty fitness equipment under the CLMBR and FORME brands, has announced a significant strategic move. The company has entered into a Securities Purchase Agreement to raise up to $500 million. The net proceeds from this transaction are earmarked exclusively for the acquisition of FET tokens, a leading AI digital asset developed by Fetch.ai. This investment is part of TRNR's broader strategy to establish the largest publicly listed crypto treasury focused on an AI-token in the United States.

TRNR has already begun acquiring FET tokens with an initial $55 million investment from private equity firm ATW Partners and crypto market maker DWF Labs. This collaboration is expected to accelerate TRNR's mission to create significant long-term value for its shareholders. The company's CEO, Trent Ward, highlighted the growing importance of digital assets in global financial infrastructure and the transformative potential of AI, positioning Fetch.ai as a leader at the intersection of these two technologies.

Andrei Grachev, Managing Partner of DWF Labs, expressed pride in supporting this landmark deal, which he believes signals the next wave of corporate capital markets embracing AI-driven digital assets. Humayun Sheikh, CEO of Fetch.ai, elaborated on the unique capabilities of Fetch.ai's ecosystem, which is built on autonomous agents that can interact, collaborate, and transact in real time. This technology enables the development of AI tools that operate independently, such as those for booking appointments, market forecasting, or personalized fitness plans.

Fetch.ai's platform features the world's first decentralized LLM designed for autonomous action, powering AI agents that optimize critical industries, including medical research, energy, logistics, and finance. As part of the deal, Fetch.ai will collaborate with TRNR to expand its digital fitness services and accelerate the development of an AI-driven personal training platform. This investment is expected to strengthen TRNR's financial flexibility and support its AI and digital fitness ambitions, increasing shareholder exposure to next-generation growth assets.

TRNR will leverage BitGo for both the trading and custody of its FET holdings through BitGo’s best-in-class custody platform. The company's advisors for this transaction include Lucosky Brookman, K&L Gates/Ed Dartley, Kelly Drye & Warren, Blank Rome, and Nixon Peabody. Wachsman is the communications and strategy firm for the transaction and the agency of record for Fetch.ai. For more details on the rationale and structure of the expected acquisition, investors are encouraged to visit TRNR’s investor website and its required filings with the U.S. Securities and Exchange Commission (SEC).

Fetch.ai Inc. is a Delaware-based AI company and founding member of the Artificial Superintelligence Alliance (ASI), redefining the possibilities of an intelligent and connected world through its AI agent-based technology. Fetch.ai’s infrastructure technology enables developers and businesses to build, deploy, and monetize through an agent-based modular platform for the new generation of AI applications. The company’s core product, Agentverse, fuses Language Models (LLMs) and AI Agents to create an open and dynamic marketplace that connects users to services and reimagines the current search experience.

Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: CLMBR and FORME. CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout, while 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. The company is listed on NASDAQ under the symbol TRNR.