Interactive Strength Liquidates $50M FET Bet, Preferred Shares Gain Priority

Interactive Strength liquidated its FET treasury and issued preferred shares with $1.24M liquidation preference, prioritizing them over common holders amid a $22.4M working capital deficit.

Woofun AI reports that Interactive Strength liquidated its FET token treasury in late 2025. On July 28, the company paid a dividend using 619,584 preferred shares, establishing a $1.239 million minimum base liquidation preference ahead of common shareholders. Series A shares carry $562,688 in base preference plus $45,015 in first-year dividends, while Series C adds $676,480 and $101,472 respectively. Combined, these instruments total $1.239 million in base preference and approximately $146,487 for the first year before compounding. Cash payments generally occur only upon board declaration or under liquidation terms. The company’s balance sheet showed $4.738 million in cash against a $22.4 million working-capital deficit. Unrestricted liquidity stood at roughly $1.3 million as of the May 20 filing, with the firm warning of substantial doubt regarding its ability to continue as a going concern.