Shares of Interactive Strength Inc. (NASDAQ:TRNR) plunged roughly 40% on Friday following the company’s disclosure that it will implement a 1-for-10 reverse stock split on February 24, 2026. The corporation said the action will lower its outstanding share count from approximately 14.3 million to approximately 1.4 million.
The company indicated its common stock will continue to trade under the ticker symbol "TRNR," but that the listing will carry a new CUSIP number, 45840Y500, after the split is executed. Interactive Strength noted the split is part of a broader plan intended to bring its stock back into compliance with the Nasdaq Capital Market’s minimum bid price requirement of $1.00 per share.
Management said the reverse split was previously approved by shareholders at the Annual Meeting held on September 26, 2025. The company’s board of directors subsequently approved the final 1-for-10 ratio on February 6, 2026, setting the mechanics for how the exchange will be carried out.
Proportionate adjustments will be applied to the shares underlying outstanding equity awards and warrants, and corresponding adjustments will be made to exercise prices or conversion prices tied to those instruments. Interactive Strength specified that the number of authorized shares and the par value per share will remain unchanged despite the consolidation of outstanding common shares.
Equiniti Trust Company has been designated as the exchange agent to oversee the reverse split. Shareholders who hold their positions in book-entry form or through brokerage accounts will see their holdings automatically adjusted; no action will be required from those investors. The company also stated no fractional shares will be issued as a result of the consolidation, and that holders who would otherwise be entitled to fractional shares will instead receive a cash payment in lieu of fractional shares.
The reverse split and its related adjustments pertain to Interactive Strength’s common stock as described above. The company manufactures specialty fitness equipment marketed under the Wattbike, CLMBR and FORME brands. Beyond the corporate and administrative details provided, the company framed the reverse split as a compliance-oriented measure with Nasdaq’s listed company standards.