How Interactive Strength erased a $50M FET token bet and sent common shareholders to the back of the line

Interactive Strength’s preferred stock dividend added 619,584 shares and $1.24 million of preference ahead of common holders.

• Interactive Strength liquidated its FET token treasury to satisfy $55.56 million in senior secured convertible notes, erasing a $50 million bet.
• The company issued a stock dividend of 619,584 preferred shares, preserving cash but diluting common shareholders and establishing new liquidation preferences.
• Facing a significant working-capital deficit and doubts about its ability to continue as a going concern, Interactive Strength also issued a new $2 million secured note.

Topics: Asset types, Institutional adoption, Risk default, Alternative assets, Asset manager initiatives, Credit counterparty risk

Tags: #interactivestrength #fettoken #preferredstock #commonshareholders #liquidationpreference #cryptotreasury #securednote #convertiblenotes #dilution #goingconcern

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