Interactive Strength Inked A Definitive Agreement For The Issuance And Sale Of 5,681,820 Shares Of Its Common Stock At A Purchase Price Per Share Of $0.176 In A Registered Direct Offering Priced At-the-market Under Nasdaq Rules
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Interactive Strength has signed a definitive agreement to issue and sell 5,681,820 shares of its common stock at $0.176 per share in a registered direct offering priced at-the-market under Nasdaq rules.
May 22, 2024 | 11:52 am
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Interactive Strength (TRNR) has announced a registered direct offering of 5,681,820 shares at $0.176 per share. This move is likely to dilute existing shares and could put downward pressure on the stock price in the short term.
The issuance of new shares at a price lower than the current market price typically leads to dilution of existing shares, which can result in a decrease in the stock price. The offering is significant in size relative to the company's existing share count, increasing the likelihood of a negative short-term impact.
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