Interactive Strength (TRNR) has filed to raise $21.6 million in an IPO of its common stock, according to an S-1 registration statement. When we learn more about management’s pricing and valuation assumptions, I’ll provide a final opinion. Austin, Texas-based Interactive Strength was founded to develop hardware and related workout software for fitness enthusiasts that promises to provide a more immersive experience. Management is headed by co-founder, Chairman and CEO Trent A. Ward, who has been with the firm since its inception in May 2017 and was previously a portfolio manager at Citadel LLC, a financial services company.