Fission Tech Company Oklo Merging with AltC Acquisition in $850M Deal

Oklo and AltC Acquisition announced today that they have entered into a definitive business combination agreement at a pre-money equity value of $850 million.

If approved, upon closing Oklo is expected to listed on the New York Stock Exchange under OKLO.

The target is an advanced fission technology and nuclear fuel recycling company.

AltC was co-founded by and Churchill Capital in July 2021. Altman serves as CEO of AltC and has been chairman of Oklo since 2015.

The transaction is expected to deliver up to $500 million in gross proceeds from the cash held in AltC's trust account, subject to redemptions.

Oklo shareholders will not receive cash as part of the transaction, as all existing Oklo shareholders will roll all of their equity into the combined company. AltC's sponsor has agreed to subject all of its founder equity to performance hurdles. Additionally, the Oklo founders and AltC's sponsor have committed to long duration lock-ups. Read more.

Source: Fission Tech Company Oklo Merging with AltC Acquisition in 0M Deal