After weeks of wrangling, Interactive Strength, Inc. (TRNR) has filed two lawsuits in connection with the previously disclosed defaulted loan to Sportstech Brands Holding GmbH (Sportstech) and the corresponding personal guarantee by Sportstech Founder Ali Ahmad.

The company further announced that a public auction of 100 percent of the shares in Sportstech, pledged to Interactive Strength, will be held on March 11, 2026, at 11:00 a.m. Central European Time in Frankfurt am Main, Germany.

“We are taking the 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,” commented Trent Ward, CEO of Interactive Strength. “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.”

Regarding the auction, Ward noted that 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, represent a positive, and near-term, resolution for our shareholders,” Ward continued. “We have pursued this process deliberately and transparently, and the March 11 auction date provides some certainty on timing.”

Lawsuit Filings Details
Ward explained that the first claim is against Sportstech for its failure to repay roughly $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, are governed by German law and are also accessible on 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, Ahmad is said to be personally liable for amounts owed to TRNR that Sportstech has not paid 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 TRNR 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 announced in the Berliner Morgenpost on February 10, 2026, in accordance 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 sportstech@interactivestrength.com

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 percent 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-upon 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, here. Additional summary details can be found below in SGB Media’s prior coverage of this story.

Image courtesy Interactive Strength

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