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