Interactive Strength, which sells connected home fitness equipment and personal training classes, raised $12 million by offering 1.5 million shares at $8, the high end of the range of $6 to $8. The company originally planned to offer 2 million shares, but revised the terms in mid-April.
Doing business under the name Forme, the company offers two connected fitness hardware products, the Forme Studio (fitness mirror) and the Forme Studio Lift (fitness mirror and cable-based digital resistance). It also offers video on-demand classes, personal training, and expert health coaching, though sales of its connected fitness hardware products have accounted for the majority of revenue to date.
Interactive Strength plans to list on the Nasdaq under the symbol TRNR. Aegis Capital Corp. acted as sole bookrunner on the deal.
