Interactive Strength (TRNR) said Tuesday it has agreed to acquire 100% of Wattbike, an indoor performance training bike business, in an all-stock transaction.

Financial details of the transaction were not disclosed.

The company said the deal is expected to close as early as Q2 and be immediately accretive to its results.

Shares of the company rose more than 34% in recent premarket trading activity Tuesday.

Price: 1.20, Change: +0.31, Percent Change: +34.83