Interactive Strength Inc. has amended its bylaws by designating 5,000,000 shares of its authorized preferred stock as Series LTI Convertible Preferred Stock, which is issuable only to certain executive officers and non-executive directors. The LTI Preferred Stock lacks voting rights except as required by law or the company's Certificate of Incorporation. The stock will not be listed on any securities exchange and lacks an established trading market. Dividends accrue at 10% per annum, payable under specific conditions related to the holder's ongoing position with the company. If stockholder approval is not obtained by June 6, 2026, the company will redeem the shares for cash at the Original Issue Price.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.