Oklo (OKLO) said Thursday that it has signed a letter of intent to acquire Atomic Alchemy for $25 million in an all-stock transaction.

Oklo said all shares issued to Atomic Alchemy owners will be subject to multi-year lock-ups.

Oklo said the deal is expected to have a "minimal" immediate impact on its operating costs and is not expected to impact its 2024 outlook.

Shares of the company were up 4% in recent Thursday premarket activity.

Price: 24.00, Change: +0.92, Percent Change: +3.99