Interactive Strength Inc. (Nasdaq:TRNR) Expects to Complete Wattbike Acquisition Imminently After Receiving UK Regulatory Approval

Regulatory Approval by the UK Financial Conduct Authority was Key Requirement for Transaction Timing

Minimal Conditions Remain for Deal Completion; Closing Expected in July, 2025

AUSTIN, TX AND NOTTINGHAM, UK / ACCESS Newswire / June 18, 2025 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or the "Company") today announced that it has received formal approval from the UK Financial Conduct Authority ("FCA") for its previously-announced acquisition of Wattbike, the UK-based, omni-channel, connected, indoor-performance bike business, and that it expects to complete the acquisition in July, 2025.

The FCA's approval satisfies a key condition for the closing of the acquisition, which is expected to significantly expand Interactive Strength Inc.'s presence in the global fitness market, particularly in the UK, and enhance its product offerings with a leading indoor-performance bike offering. This strategic acquisition is anticipated to be immediately accretive to TRNR's results and accelerate growth, especially in key markets like the US and Germany, leveraging TRNR's global distribution network.

Wattbike delivered over $15 million in 2024 revenue and has built on its prestigious elite-sport base - including Olympic teams, Premier League clubs, major US sports teams and elite fitness facilities - to debut a much broader product portfolio that will allow its footprint to scale internationally as well as in the UK, its home market.

"We have been waiting to secure FCA approval in order to finalize the Wattbike deal and now we will push to completion quickly," said Trent Ward, Founder & CEO of Interactive Strength. "This regulatory hurdle was the main closing requirement the timing of which we did not control. The remaining steps are largely administrative. We're already well underway integrating and collaborating with Wattbike, and we look forward to accelerating from here. Wattbike's elite heritage, combined with TRNR's Nasdaq listing, US distribution reach, and marketing muscle, positions us to drive meaningful growth across the UK, US, and Germany."

"We remain thrilled to become part of the TRNR family," added Stephen Loftus, CEO of Wattbike. "With FCA approval secured, we're on the road to fully leverage TRNR's global platform to accelerate our consumer and commercial expansion and bring premium, data-driven indoor cycling to new audiences."

Wattbike is renowned for its high-performance connected indoor bikes, with deep penetration into leading UK gyms and an expanding direct-to-consumer customer base. The acquisition consideration is structured as an all-stock transaction for 100% of Wattbike, and there is an earn-out component to align the business' financial performance with TRNR valuation. Further details regarding the financial impact of the acquisition will be provided in our upcoming filings with the U.S. Securities and Exchange Commission.