Oklo SPAC

AltC Acquisition Corp., a special purpose acquisition corporation, announced its merger with Oklo Inc., a green fission power technology and nuclear fuel innovator. As a result of the merger, Oklo will transition from a private company to becoming publicly traded, giving investors an opportunity to invest in sustainable energy solutions. The transaction valued Oklo at a pre-money equity value of $850 million, providing an attractive entry point for AltCs shareholders that is roughly half the value of comparable clean energy go-public transactions. No existing Oklo shareholders received cash as part of the transaction, as all existing Oklo shareholders rolled all of their existing equity into the combined company. The merger was concluded in May 2024 and the comapny went public on the New York Stock Exchange under the symbol OKLO. The stock price dropped 54 to $8.45 on its first trading day, bringing the total market cap down to $348M.