Interactive Strength (TRNR) plans to raise up to $ 500m to buy fetch.ai fet tokens
The fitness-equipment manufacturer said Interactive Strength (TRNR) has entered into a security purchase agreement to raise the amount of $ 500 million for the purchase of the Fets.Aai fet fet as a crypto treasury approach.
The company listed in the NASDAQ is in the process of purchasing tokens after raising $ 55 million of the new capital from ATW partners and DWF labs, it said in a release shared with CoinDesk.
“Digital ownership quickly becomes an integral part of the global financial infrastructure and AI is the biggest technological jump in our lives,” CEO Trent Ward said in the statement. “We believe that our approach to get a significant number of $ fet tokens can dramatically accelerate our mission to create significant long-term value for TRNR shareholders.”
The interactive strength, the manufacturer of CLMBR and Forse branded equipment, has joined a Long list of public companies To us that adds cryptocurrencies to their balance sheets. Mostly, led by strategy (MSTR), is dedicated to Bitcoin
. None of these companies get AI tokens such as fet.
The TRNR, which has a market cap of $ 8.4 million, will use BITGO for trading and keeping its fet holders, according to the statement. Its shares increased by 3.5% to 83 cents in pre-market trading.
