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.
As part of the merger, seven new board directors, chosen by AltC shareholders, will take on responsibilities. These members are known for their technical, operational, and financial knowledge, and have strong bonds in Oklo’s primary end markets.
Following a positive shareholders’ vote, Oklo is projected to receive more than $306 million in gross earnings. This sum, along with a recent customer prepayment of $25 million, should lead to a strong balance sheet post-merger.
AltC and Oklo merger elevates sustainable energy investment
Oklo is thus well-positioned to deliver enhanced shareholder value and growth opportunities.
Oklo’s advanced swift reactor technology, particularly its Aurora Powerhouse, promises to meet the growing electricity needs worldwide. With a capacity to function autonomously for decades, the Powerhouse is well-equipped to deliver power in the most remote and energy-demanding locations. Oklo’s wider commitment to efficient resource use and waste reduction further enhances its reputation and customer trust.
The merger is anticipated to conclude on May 9, 2024, followed by the newly formed company, Oklo Inc., trading on the New York Stock Exchange under the symbol “OKLO” from May 10, 2024. The transition should be completed by May 8, 2024, to ensure smooth proceedings.
While AltC’s primary focus is on merger acquisitions and stock trading, Oklo’s mission aligns with providing scalable, economical, and sustainable energy through swift fission power plants. Though both companies operate in the business sector, their core objectives outline their uniqueness: AltC in strategic business transitions and Oklo’s commitment to a clean energy future.
