ismagilov
Connected fitness provider Interactive Strength (TRNR), which does business under the name Forme, has filed to raise around $18M through an initial public offering.
Forme didn’t specify in its filing how many shares it intends to offer or the price, but indicated in its filing fee schedule that it was seeking about $18M.
The company hopes to list its shares on Nasdaq under the symbol TRNR, with Aegis Capital serving as lead bookrunner. It conducted a 1-for-150 reverse stock merger on Dec. 30.
Based in Austin, Texas, Forme markets two fitness mirror products. The company also provides personal training and health coaching services along with video-on-demand classes.
For the nine-month period ended Sept. 30, Forme reported a net loss of $39M on revenue of $500K.
Key players in the connected fitness space include Peloton (PTON), Beachbody (BODY), Lululemon (LULU) and Xponential (XPOF). Australian fitness equipment retailer Fitell (FTEL), which is also developing a mirror product, filed for a US listing last fall.
Image and article originally from seekingalpha.com. Read the original article here.