Sep. 16 at 12:56 AM
$TRNR
Sportstech:
Optional Tranches (Performance-based, Common Stock):
Up to
$10M (Optional A) → If EU EBITDA >
$3.5M FY ending Mar 2026.
Up to
$10M (Optional B) → If EU EBITDA >
$5.5M FY ending Mar 2027.
Up to
$20M (Optional C) → Based on U.S. EBITDA × 3, FY ending Mar 2027.
Wattbike:
1.3M Series E Preferred Stock (issued at closing, mandatory conversion into common on June 15, 2026).
Performance-based Earnouts (Common Stock):
FY26 (Oct 2025 – Sep 2026): If revenues > £17.5M → 50% of excess, capped at £1.5M.
FY27 (Oct 2026 – Sep 2027): If revenues > £20M → 50% of excess, capped at £1.5M.
