1The unnamed affiliated investor and actual initial funding
analysisInteractive Strength’s SEC-filed prospectus describes a 10 June 2025 financing involving the issuer and its wholly owned Treasury subsidiary as borrowers, and unnamed entities affiliated with DWF Labs and ATW Partners as investors. Together they paid US$50 million for notes with US$55,555,555 principal, a 10% original-issue discount, 12% interest and an eighteen-month maturity. The agreement also allowed additional notes up to US$444,444,445 principal. The notes could convert into issuer shares or exchange into FET tokens under specified conditions. 1
- qualification
- The filing does not allocate the entire initial funding to DWF or name the exact DWF-affiliated lender in this passage. Potential additional issuance is not cash already advanced. The accepted graph therefore uses a separately identified unnamed DWF-affiliated investor, rather than assigning a US$500 million loan to the Swiss AG or Singapore company. The embedded balance is explicitly dated August 2025 even though the prospectus was filed later.
Sources (1)
- Company statement concerning Digital Wave Finance or the identified participant US Securities and Exchange Commission
Recorded connections
- Unnamed DWF-affiliated investor in Interactive Strength notes to Interactive Strength Inc.DWF-affiliated investor in the jointly funded convertible-note transactionreported · Transaction 10 June 2025; combined initial principal US$55,555,555 across two affiliated investors · historical
- Unnamed DWF-affiliated investor in Interactive Strength notes to DWF Labs (group brand; contracting entity varies)Affiliated investor; exact legal identity undisclosed in this passagereported · 10 June 2025 financing · historical