Interactive Strength Inc. (NASDAQ:TRNR) announced on November 7, 2024, that it will conduct a 1-for-100 reverse stock split of its outstanding common stock. The reverse stock split is scheduled to become effective on November 11, 2024, with post-split trading commencing on the same day.
This action, approved by shareholders and the Board of Directors, will reduce the number of outstanding shares from 31 million to 313,235. The primary objective of this reverse split is to ensure the company's continued compliance with Nasdaq listing requirements, specifically the minimum bid price rule.
Maintaining Nasdaq listing is critical for TRNR, as it impacts the company's visibility, liquidity, and ability to access capital markets. This corporate action addresses a key regulatory concern for the company.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.