The Albany Gazette - TRNR Files Lawsuits Against Sportstech and Ali Ahmad and Announces March 11, 2026 Public Auction of All Shares of Sportstech

AUSTIN, TEXAS / ACCESS Newswire / February 10, 2026 / Interactive Strength Inc. (Nasdaq:TRNR) (the "Company") today announced that it has filed two distinct lawsuits in connection with the previously disclosed defaulted loan to Sportstech Brands Holding GmbH ("Sportstech"), and the corresponding personal guarantee by Ali Ahmad. The Company further announced that a public auction of 100% of the shares in Sportstech pledged to Interactive Strength will be conducted on March 11, 2026, at 11:00 a.m. Central European Time in Frankfurt am Main, Germany.

Trent Ward, Chief Executive Officer of Interactive Strength, commented: "We are taking next steps in asserting our rights under the loan agreement - on multiple fronts at the same time, as we said we would. We extended Sportstech every opportunity to resolve this matter, and we have lost patience with their nonsensical posturing."

"With respect to the lawsuits: those complaints were shared with Sportstech and its bank lenders, Commerzbank, Deutsche Bank, and Volksbank Mittweida, in advance of filing in an effort to minimize legal costs and facilitate a negotiated resolution. Unfortunately, there was no sincere engagement on a resolution, despite the straight-forward legal rights we have in the loan agreement with Sportstech and personal guarantee by Ali Ahmad."

In terms of the auction: any qualified bidder can participate by registering in advance, providing a bank guarantee from a German financial institution covering their maximum bid, and appearing in person in Frankfurt."

"Multiple outcomes, such as receiving a value of the shares above our claim, or acquiring Sportstech at a value near our claim, represents a positive, and near-term, resolution for our shareholders. We have pursued this process deliberately and transparently, and the March 11 auction date provides some certainty on timing."

Lawsuit Filings Details

The first claim is against Sportstech for its failure to repay approximately $6.0 million in principal, interest, and discount under the Loan Agreement dated January 27, 2025, as amended by the Loan Extension Agreement dated May 22, 2025. Both the loan agreement and the amendment were filed with the U.S. Securities and Exchange Commission last year and are governed by German law, and are also accessible from TRNR's IR site.

The complaint seeks full repayment of the outstanding balance together with default interest and enforcement costs. There is also an additional claim for $0.6 million, plus default interest, that could be filed in Luxembourg for the extension fee that Sportstech elected to incur.

Additionally, the second claim is personally against Ali Ahmad, Founder and CEO of Sportstech, and seeks to enforce the personal guarantee he provided in connection with the loan obligations as notarized under German law in January 2025. Under the terms of that guarantee, Mr. Ahmad is personally liable for amounts owed to TRNR and not paid by Sportstech, and can be pursued without waiting on the Sportstech claim.

Public Auction Details

The auction represents the formal enforcement of Interactive Strength's security interest in the Sportstech shares, which were pledged to the Company under a Share Pledge Agreement dated January 27, 2025, to secure the defaulted working capital loan. As previously disclosed, the loan matured on December 30, 2025, and remains outstanding. Bidders are being solicited with the intention of a successful auction for an amount in excess of Interactive Strength's claims.

The auction notice has been submitted to the German Federal Gazette (Bundesanzeiger) and was announced in the Berliner Morgenpost today, consistent with all applicable legal requirements.

The public auction will be conducted by a German notary in accordance with Sections 1273(2) and 1235 of the German Civil Code. Key details include:

Date: March 11, 2026

Time: 11:00 a.m. CET (5:00 a.m. Eastern Time)

Location: bhp Bogner Hensel & Partner, Zeppelinallee 47, 60487 Frankfurt am Main, Germany

Registration: Required between 9:30 a.m. and 10:30 a.m. CET on auction day

Prospective bidders may access a virtual data room containing information about Sportstech by executing a non-disclosure agreement. Interested parties should contact: [email protected]

General Background

Interactive Strength provided Sportstech approximately $5.0 million in cash as a working capital loan during the first part of 2025, secured by a share pledge over 100% of Sportstech's shares executed by Sportstech's CEO and majority shareholder. The loan matured on December 30, 2025 and Sportstech has not made any payments on the outstanding balance, which includes agreed-to interest and fees.

All material loan and security agreements were filed with the U.S. Securities and Exchange Commission. The Share Pledge Agreement, which governs the auction enforcement process, is available as Exhibit 10.2 to the Company's 8-K filed on February 4, 2025.

Shareholders and interested parties can review the full history of this transaction - including all SEC filings and executed agreements - at https://interactivestrength.com/sportstech/

About Interactive Strength Inc.:

Interactive Strength Inc. (NASDAQ:TRNR) is building a global portfolio of premium connected fitness brands. The company owns and operates Wattbike, the pioneering indoor performance training bike trusted by elite athletes and professional sports teams worldwide; FORME, a digital fitness platform combining smart gyms with virtual personal training; and CLMBR, a vertical climbing machine delivering efficient full-body workouts. TRNR uses its Nasdaq listing to acquire and combine compelling fitness products and technologies in one high-growth platform serving consumers and fitness businesses across the US, UK, and Europe. www.interactivestrength.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the anticipated auction date and process, potential recovery amounts, expected outcomes of enforcement proceedings, the Company's enforcement actions, litigation outcomes, and recovery of amounts owed. These statements are based on current expectations, estimates, forecasts, and projections, including assumptions about the legal processes in Germany and the conduct of the public auction. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors, including legal challenges, regulatory requirements, market conditions for the auctioned assets, the conduct of other potential bidders, and other risks described in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements, except as required by law.

Investor Contact:

Interactive Strength Inc.
[email protected]

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SOURCE: Interactive Strength Inc.

View the original press release on ACCESS Newswire

(T.Martin--TAG)