AG˹ٷ

STOCK TITAN

[8-K] Interactive Strength Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Form 144 filed for Upstart Holdings, Inc. (UPST) details the proposed sale of 5,000 common shares on or around 07/08/2025 through Charles Schwab & Co. at an aggregate market value of $400,210. The shares were acquired the same day via a cashless exercise of employee stock options; therefore, no new shares are issued and the transaction is non-dilutive.

The filing lists prior insider activity by Scott Darling over the last three months, totaling 26,115 shares sold for gross proceeds of $1.44 million. Including the newly proposed trade, cumulative insider sales reach 31,115 shares. Relative to the company’s outstanding share count of 95.1 million, the upcoming 5,000-share sale represents approximately 0.005% of shares outstanding, indicating minimal mechanical impact on float or liquidity.

While the dollar amounts are modest in the context of Upstart’s market capitalization, continued insider selling may draw investor attention, particularly given ongoing macro uncertainty affecting fintech valuations. The Form 144 also affirms that the seller possesses no undisclosed material adverse information, satisfying Rule 144 requirements.

Il modulo 144 presentato per Upstart Holdings, Inc. (UPST) descrive la vendita proposta di 5.000 azioni ordinarie intorno al 08/07/2025 tramite Charles Schwab & Co., per un valore di mercato complessivo di 400.210 dollari. Le azioni sono state acquisite lo stesso giorno mediante un esercizio senza esborso di opzioni azionarie per dipendenti; di conseguenza, non sono state emesse nuove azioni e la transazione non è diluitiva.

La dichiarazione riporta un'attività insider precedente di Scott Darling negli ultimi tre mesi, con un totale di 26.115 azioni vendute per un ricavo lordo di 1,44 milioni di dollari. Inclusa la nuova vendita proposta, le vendite cumulative degli insider raggiungono 31.115 azioni. In relazione al numero totale di azioni in circolazione di 95,1 milioni, la prossima vendita di 5.000 azioni rappresenta circa lo 0,005% delle azioni in circolazione, indicando un impatto minimo sulla liquidità o sul flottante.

Nonostante gli importi in dollari siano modesti rispetto alla capitalizzazione di mercato di Upstart, la continua vendita da parte degli insider potrebbe attirare l'attenzione degli investitori, soprattutto considerando l'incertezza macroeconomica che influenza le valutazioni fintech. Il modulo 144 conferma inoltre che il venditore non possiede informazioni materiali sfavorevoli non divulgate, rispettando i requisiti della Regola 144.

El formulario 144 presentado para Upstart Holdings, Inc. (UPST) detalla la venta propuesta de 5,000 acciones comunes alrededor del 08/07/2025 a través de Charles Schwab & Co., con un valor de mercado agregado de $400,210. Las acciones fueron adquiridas el mismo día mediante un ejercicio sin efectivo de opciones sobre acciones para empleados; por lo tanto, no se emitieron nuevas acciones y la transacción no es dilutiva.

El documento lista actividades previas de insider por parte de Scott Darling en los últimos tres meses, con un total de 26,115 acciones vendidas por ingresos brutos de $1.44 millones. Incluyendo la operación propuesta, las ventas acumuladas de insiders alcanzan 31,115 acciones. En relación con el número de acciones en circulación de 95.1 millones, la próxima venta de 5,000 acciones representa aproximadamente el 0.005% de las acciones en circulación, indicando un impacto mínimo en el flotante o la liquidez.

Aunque las cantidades en dólares son modestas en el contexto de la capitalización de mercado de Upstart, la continua venta por parte de los insiders puede atraer la atención de los inversores, especialmente dado el contexto de incertidumbre macroeconómica que afecta las valoraciones fintech. El formulario 144 también afirma que el vendedor no posee información adversa material no divulgada, cumpliendo con los requisitos de la Regla 144.

업스타� 홀딩스, Inc. (UPST)� 대� 제출� Form 144� 2025� 7� 8일경 Charles Schwab & Co.� 통해 5,000� 보통�� � 시장 가� 400,210달러� 매도� 예정임을 상세� 밝히� 있습니다. 해당 주식은 같은 � 직원 주식매수선택권의 현금 없는 행사� 통해 취득되었으므�, 새로� 주식 발행� 없으� 거래� 희석 효과가 없습니다.

신고서에� 지� 3개월� 스콧 달링� 내부� 거래 내역으로 � 26,115�� 매도하여 � 수익 144� 달러� 기록� 내용� 포함되어 있습니다. 이번 제안� 거래� 포함하면 내부� 매도 누적 주식 수는 31,115�� 달합니다. 회사� � 발행 주식 � 9,510� �� 비해 이번 5,000� 매도� � 0.005%� 해당하여 유통 주식 수나 유동성에 미치� 영향은 미미합니�.

달러 금액은 업스타트의 시가총액� 비해 적은 편이지�, 지속적� 내부� 매도� 특히 핀테크 밸류에이션에 영향� 미치� 거시 경제 불확실성 상황에서 투자자들� 관심을 � � 있습니다. 또한 Form 144� 매도자가 공개하지 않은 중요 부정적 정보가 없음� 확인하여 Rule 144 요건� 충족함을 명시합니�.

Le formulaire 144 déposé pour Upstart Holdings, Inc. (UPST) détaille la vente proposée de 5 000 actions ordinaires aux alentours du 08/07/2025 via Charles Schwab & Co., pour une valeur marchande totale de 400 210 $. Les actions ont été acquises le même jour par un exercice sans décaissement d'options d'achat d'actions pour employés ; par conséquent, aucune nouvelle action n'est émise et la transaction n'est pas dilutive.

Le dépôt mentionne une activité antérieure d'initiés par Scott Darling au cours des trois derniers mois, totalisant 26 115 actions vendues pour un produit brut de 1,44 million de dollars. En incluant la transaction nouvellement proposée, les ventes cumulées des initiés atteignent 31 115 actions. Par rapport au nombre d'actions en circulation de 95,1 millions, la vente prochaine de 5 000 actions représente environ 0,005 % des actions en circulation, indiquant un impact mécanique minimal sur le flottant ou la liquidité.

Bien que les montants en dollars soient modestes dans le contexte de la capitalisation boursière d'Upstart, la poursuite des ventes d'initiés pourrait attirer l'attention des investisseurs, notamment compte tenu de l'incertitude macroéconomique persistante affectant les valorisations des fintechs. Le formulaire 144 confirme également que le vendeur ne détient aucune information défavorable matérielle non divulguée, satisfaisant ainsi aux exigences de la règle 144.

Das eingereichte Formular 144 für Upstart Holdings, Inc. (UPST) beschreibt den geplanten Verkauf von 5.000 Stammaktien um den 08.07.2025 über Charles Schwab & Co. mit einem Gesamtmarktwert von 400.210 US-Dollar. Die Aktien wurden am selben Tag durch eine barlose Ausübung von Mitarbeiteraktienoptionen erworben; daher werden keine neuen Aktien ausgegeben und die Transaktion ist nicht verwässernd.

Die Einreichung listet frühere Insideraktivitäten von Scott Darling in den letzten drei Monaten auf, bei denen insgesamt 26.115 Aktien für Bruttoerlöse von 1,44 Millionen US-Dollar verkauft wurden. Mit dem neu vorgeschlagenen Verkauf summieren sich die Insiderverkäufe auf 31.115 Aktien. Im Verhältnis zur ausstehenden Aktienzahl von 95,1 Millionen entspricht der bevorstehende Verkauf von 5.000 Aktien etwa 0,005 % der ausstehenden Aktien, was auf eine minimale mechanische Auswirkung auf den Streubesitz oder die Liquidität hinweist.

Obwohl die Beträge im Vergleich zur Marktkapitalisierung von Upstart moderat sind, könnte der fortgesetzte Insiderverkauf die Aufmerksamkeit der Investoren auf sich ziehen, insbesondere angesichts der anhaltenden makroökonomischen Unsicherheit, die die Bewertungen von Fintech-Unternehmen beeinflusst. Das Formular 144 bestätigt zudem, dass der Verkäufer keine nicht offengelegten wesentlichen nachteiligen Informationen besitzt und somit die Anforderungen der Regel 144 erfüllt.

Positive
  • Non-dilutive cashless option exercise means no increase in shares outstanding.
  • Sale represents only 0.005% of total shares, posing minimal liquidity impact.
Negative
  • Continued insider selling (31,115 shares in ~3 months) may signal reduced insider confidence.
  • Repeated sales could create negative sentiment among investors despite limited quantitative impact.

Insights

TL;DR Insider plans to sell 5k shares after prior 26k sales; small size but sustained selling trend.

The proposed 5,000-share sale equates to roughly 0.005% of UPST’s outstanding stock—mechanically immaterial. However, Form 144 shows a pattern: Scott Darling has liquidated 26,115 shares since late April. Persistent insider selling, even at small percentages, can signal caution to investors assessing management’s conviction, especially for a high-beta fintech whose valuation hinges on growth expectations. Because the shares stem from an option exercise, there is no dilution risk. Overall, the filing is not financially material but is worth monitoring for sentiment.

TL;DR Routine Rule 144 filing; negligible float impact, modest optics risk from repeat sales.

Rule 144 compliance looks straightforward—broker handling, option exercise documentation, and representation of no undisclosed adverse information. The transaction size is modest, suggesting personal liquidity management rather than strategic divestment. Nonetheless, serial sales by the same insider within a short window can attract governance scrutiny. Investors should track whether future 10b5-1 plans or additional Form 4 filings emerge, as clustering sales might weigh on market perception even if legally routine.

Il modulo 144 presentato per Upstart Holdings, Inc. (UPST) descrive la vendita proposta di 5.000 azioni ordinarie intorno al 08/07/2025 tramite Charles Schwab & Co., per un valore di mercato complessivo di 400.210 dollari. Le azioni sono state acquisite lo stesso giorno mediante un esercizio senza esborso di opzioni azionarie per dipendenti; di conseguenza, non sono state emesse nuove azioni e la transazione non è diluitiva.

La dichiarazione riporta un'attività insider precedente di Scott Darling negli ultimi tre mesi, con un totale di 26.115 azioni vendute per un ricavo lordo di 1,44 milioni di dollari. Inclusa la nuova vendita proposta, le vendite cumulative degli insider raggiungono 31.115 azioni. In relazione al numero totale di azioni in circolazione di 95,1 milioni, la prossima vendita di 5.000 azioni rappresenta circa lo 0,005% delle azioni in circolazione, indicando un impatto minimo sulla liquidità o sul flottante.

Nonostante gli importi in dollari siano modesti rispetto alla capitalizzazione di mercato di Upstart, la continua vendita da parte degli insider potrebbe attirare l'attenzione degli investitori, soprattutto considerando l'incertezza macroeconomica che influenza le valutazioni fintech. Il modulo 144 conferma inoltre che il venditore non possiede informazioni materiali sfavorevoli non divulgate, rispettando i requisiti della Regola 144.

El formulario 144 presentado para Upstart Holdings, Inc. (UPST) detalla la venta propuesta de 5,000 acciones comunes alrededor del 08/07/2025 a través de Charles Schwab & Co., con un valor de mercado agregado de $400,210. Las acciones fueron adquiridas el mismo día mediante un ejercicio sin efectivo de opciones sobre acciones para empleados; por lo tanto, no se emitieron nuevas acciones y la transacción no es dilutiva.

El documento lista actividades previas de insider por parte de Scott Darling en los últimos tres meses, con un total de 26,115 acciones vendidas por ingresos brutos de $1.44 millones. Incluyendo la operación propuesta, las ventas acumuladas de insiders alcanzan 31,115 acciones. En relación con el número de acciones en circulación de 95.1 millones, la próxima venta de 5,000 acciones representa aproximadamente el 0.005% de las acciones en circulación, indicando un impacto mínimo en el flotante o la liquidez.

Aunque las cantidades en dólares son modestas en el contexto de la capitalización de mercado de Upstart, la continua venta por parte de los insiders puede atraer la atención de los inversores, especialmente dado el contexto de incertidumbre macroeconómica que afecta las valoraciones fintech. El formulario 144 también afirma que el vendedor no posee información adversa material no divulgada, cumpliendo con los requisitos de la Regla 144.

업스타� 홀딩스, Inc. (UPST)� 대� 제출� Form 144� 2025� 7� 8일경 Charles Schwab & Co.� 통해 5,000� 보통�� � 시장 가� 400,210달러� 매도� 예정임을 상세� 밝히� 있습니다. 해당 주식은 같은 � 직원 주식매수선택권의 현금 없는 행사� 통해 취득되었으므�, 새로� 주식 발행� 없으� 거래� 희석 효과가 없습니다.

신고서에� 지� 3개월� 스콧 달링� 내부� 거래 내역으로 � 26,115�� 매도하여 � 수익 144� 달러� 기록� 내용� 포함되어 있습니다. 이번 제안� 거래� 포함하면 내부� 매도 누적 주식 수는 31,115�� 달합니다. 회사� � 발행 주식 � 9,510� �� 비해 이번 5,000� 매도� � 0.005%� 해당하여 유통 주식 수나 유동성에 미치� 영향은 미미합니�.

달러 금액은 업스타트의 시가총액� 비해 적은 편이지�, 지속적� 내부� 매도� 특히 핀테크 밸류에이션에 영향� 미치� 거시 경제 불확실성 상황에서 투자자들� 관심을 � � 있습니다. 또한 Form 144� 매도자가 공개하지 않은 중요 부정적 정보가 없음� 확인하여 Rule 144 요건� 충족함을 명시합니�.

Le formulaire 144 déposé pour Upstart Holdings, Inc. (UPST) détaille la vente proposée de 5 000 actions ordinaires aux alentours du 08/07/2025 via Charles Schwab & Co., pour une valeur marchande totale de 400 210 $. Les actions ont été acquises le même jour par un exercice sans décaissement d'options d'achat d'actions pour employés ; par conséquent, aucune nouvelle action n'est émise et la transaction n'est pas dilutive.

Le dépôt mentionne une activité antérieure d'initiés par Scott Darling au cours des trois derniers mois, totalisant 26 115 actions vendues pour un produit brut de 1,44 million de dollars. En incluant la transaction nouvellement proposée, les ventes cumulées des initiés atteignent 31 115 actions. Par rapport au nombre d'actions en circulation de 95,1 millions, la vente prochaine de 5 000 actions représente environ 0,005 % des actions en circulation, indiquant un impact mécanique minimal sur le flottant ou la liquidité.

Bien que les montants en dollars soient modestes dans le contexte de la capitalisation boursière d'Upstart, la poursuite des ventes d'initiés pourrait attirer l'attention des investisseurs, notamment compte tenu de l'incertitude macroéconomique persistante affectant les valorisations des fintechs. Le formulaire 144 confirme également que le vendeur ne détient aucune information défavorable matérielle non divulguée, satisfaisant ainsi aux exigences de la règle 144.

Das eingereichte Formular 144 für Upstart Holdings, Inc. (UPST) beschreibt den geplanten Verkauf von 5.000 Stammaktien um den 08.07.2025 über Charles Schwab & Co. mit einem Gesamtmarktwert von 400.210 US-Dollar. Die Aktien wurden am selben Tag durch eine barlose Ausübung von Mitarbeiteraktienoptionen erworben; daher werden keine neuen Aktien ausgegeben und die Transaktion ist nicht verwässernd.

Die Einreichung listet frühere Insideraktivitäten von Scott Darling in den letzten drei Monaten auf, bei denen insgesamt 26.115 Aktien für Bruttoerlöse von 1,44 Millionen US-Dollar verkauft wurden. Mit dem neu vorgeschlagenen Verkauf summieren sich die Insiderverkäufe auf 31.115 Aktien. Im Verhältnis zur ausstehenden Aktienzahl von 95,1 Millionen entspricht der bevorstehende Verkauf von 5.000 Aktien etwa 0,005 % der ausstehenden Aktien, was auf eine minimale mechanische Auswirkung auf den Streubesitz oder die Liquidität hinweist.

Obwohl die Beträge im Vergleich zur Marktkapitalisierung von Upstart moderat sind, könnte der fortgesetzte Insiderverkauf die Aufmerksamkeit der Investoren auf sich ziehen, insbesondere angesichts der anhaltenden makroökonomischen Unsicherheit, die die Bewertungen von Fintech-Unternehmen beeinflusst. Das Formular 144 bestätigt zudem, dass der Verkäufer keine nicht offengelegten wesentlichen nachteiligen Informationen besitzt und somit die Anforderungen der Regel 144 erfüllt.

0001785056false00017850562025-07-012025-07-01

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 01, 2025

 

 

INTERACTIVE STRENGTH INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-41610

82-1432916

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1005 Congress Avenue, Suite 925

 

Austin, Texas

 

78701

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 512 885-0035

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common stock, $0.0001 par value per share

 

TRNR

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


 

Item 2.01 Completion of Acquisition or Disposition of Assets.

As previously disclosed, on April 8, 2025, Interactive Strength Inc. (the “Company”) entered into an Agreement for the Sale and Purchase of the Entire Issued Share Capital and Loan Notes of Wattbike (Holdings) Limited (“Wattbike”) (the “Purchase Agreement”) with the shareholders of Wattbike identified in the Purchase Agreement (the “Shareholders”) and holders of certain promissory notes (the “Notes’) issued by Wattbike (the “Noteholders”) to acquire the entire issued share capital and Notes of Wattbike (the “Transaction”).

On July 1, 2025 (the “Closing Date”), the parties consummated the Transaction. Pursuant to the terms of the Purchase Agreement, on the Closing Date, the Company acquired all of the issued and outstanding shares of Wattbike held by the Shareholders in exchange for £1.00. In addition, the Company acquired the Notes in exchange for paying the Noteholders 1,300,000 shares of the Company’s Series E Convertible Preferred Stock, par value $0.0001 per share (“Series E Preferred Stock”). The Noteholders may received additional consideration subject to the satisfaction of applicable milestones as previously disclosed in the Company’s Current Report on Form 8-K filed on April 11, 2025.

Item 3.02 Unregistered Sales of Equity Securities.

As previously disclosed, on June 26, 2025, the Company filed the Certificate of Designations of Series E Convertible Preferred Stock of Interactive Strength Inc. (the “Series E Certificate”) with the Secretary of State of the State of Delaware.

As previously disclosed and as set forth in Item 2.01 of this Current Report on Form 8-K, on July 1, 2025, the Company issued 1,300,000 shares of Series E Preferred Stock (the “Series E Shares”) in connection with the closing of the acquisition of Wattbike. The issuance of the Series E Shares was exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2).

The description of the Purchase Agreement and Series E Certificate herein does not purport to be complete and is qualified in its entirety by reference to the full texts of the Purchase Agreement and Series E Certificate, copies of which are attached as Exhibit 2.1 and 3.1, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements of businesses or funds acquired.

The financial statements regarding Wattbike required by this Item 9.01(a) will be filed by amendment to this 8-K no later than 71 days after July 8, 2025 (the date that the Item 2.01 8-K is due).

(b) Pro Forma Financial Information.

The pro forma financial information regarding Wattbike required by this Item 9.01(b) will be filed by amendment to this 8-K no later than 71 days after July 8, 2025 (the date that that the Item 2.01 8-K is due).

(d) Exhibits

Exhibit No.

Description

2.1*

Agreement for the Sale and Purchase of the Entire Issued Share Capital and Loan Notes of Wattbike (Holdings) Limited, dated as of April 8, 2025, by and among Interactive Strength Inc., the Shareholders and the Loan Note Holders (incorporated herein by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on April 11, 2025).

3.1

Certificate of Designation of Series E Convertible Preferred Stock of Interactive Strength Inc (incorporated herein by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed on July 2, 2025).

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Schedules and similar attachments to the Purchase Agreement have been omitted pursuant to Item 601(a)(5) of Regulation S- K. The registrant hereby undertakes to furnish on a supplemental basis a copy of any omitted schedules and similar attachments to the Securities and Exchange Commission upon request.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Interactive Strength Inc.

 

 

 

 

Date:

July 8, 2025

By:

/s/ Michael J. Madigan

 

 

 

Chief Financial Officer
(Principal Financial Officer and Principal Accounting Officer)

 


FAQ

How many Upstart (UPST) shares are insiders proposing to sell?

5,000 common shares are scheduled for sale under this Form 144.

What is the total value of the proposed UPST insider sale?

The aggregate market value is approximately $400,210.

How much stock has Scott Darling sold in the last three months?

He sold 26,115 shares for gross proceeds of $1.44 million before this notice.

Will the Form 144 sale dilute existing UPST shareholders?

No. The shares come from option exercises, so no new shares are issued.

What percentage of Upstart’s outstanding shares does the 5,000-share sale represent?

Approximately 0.005% of the outstanding 95.1 million shares.
Interactive Strength Inc.

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