Interactive Strength Inc. ( TRNR ) shares were surging higher in early Thursday trading after the company inked a non-binding letter of intent and exclusivity agreement to acquire connected-fitness equipment company for an undisclosed amount.

The deal strengthens TRNR's growth strategy by driving accretive acquisitions of high-potential businesses in the fragmented global health and wellness market.

Interactive Strength ( TRNR ) expects to complete the deal at the end of this month.

The company anticipates this deal will contribute over $15 million to TRNR's pro forma revenue, in addition to the more than $50 million projected for 2025, with Sportstech incorporated into its financials.

Last month, the company disclosed a $15 million all-stock acquisition of Sportstech Holding, a German-based connected fitness equipment company.

As of the end of third quarter, the company had $2.3 million in cash.

Price Action: TRNR shares are up 20.07% at $2.57 at the last check in early Thursday trading.

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