The interactive force of the exercise equipment manufacturer (TRNR) said it celebrated a securities purchase agreement to raise up to $ 500 million to buy the Fetch.AI token fet as a cryptographic treasury strategy.
The company that is quoted in Nasdaq is already in the process of buying the tokens after raising $ 55 million new capital of Atw Partners and DWF Labs, he said in a statement shared with Coindesk.
“Digital assets are quickly becoming an essential part of world financial infrastructure and AI is the largest technological leap in our life,” said CEO Trent Ward in the statement. “We believe that our strategy to acquire a significant number of tokens $ could drastically accelerate our mission of creating a long -term significant value for TRNR shareholders.”
The interactive force, the manufacturer of CLMB and FORME brand teams, joins a long list of public companies in the US. Which add cryptocurrencies to their balances. The majority, led by the strategy (Mstr), focus on Bitcoin
. None of these companies has acquired tokens ai as fet.
TRNR, which has a market capitalization of $ 8.4 million, will use bitgo for trade and custody of its FET holdings, according to the press release. Its shares increased 3.5% to 83 cents in trade prior to the market.
