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The publicly listed company Interactive Strength plans to raise $500 million to purchase FET Token as a financial reserve.
Gate News bot news, Nasdaq-listed company and fitness equipment manufacturer Interactive Strength (TRNR) announced that it has reached a securities purchase agreement to raise up to 500 million dollars to purchase Fetch.ai's FET Token as part of its Crypto Assets financial strategy.
The company stated that after raising $55 million in new capital from ATW Partners and DWF Labs, it has begun purchasing these Tokens.
According to reports, TRNR will use BitGo for trading and custody of its FET holdings. Its stock price rose 3.5% in pre-market trading to 83 cents.
Source: CoinDesk