Oklo Inc. to Debut on NYSE After Investor Approval

Oklo Inc. to Debut on NYSE After Investor Approval

Antonio Cruz
2 min read

Oklo Inc. Gains Investor Approval for $850 Million SPAC Deal

In a significant development for the struggling SPAC market, Oklo Inc., a developer of advanced nuclear systems with OpenAI CEO Sam Altman as chairman, has received investor approval to go public. The company's merger with AltC Acquisition Corp. is set to debut on the NYSE this Friday, with the deal delivering over $306 million to Oklo despite a 4.1% drop in AltC's shares on Tuesday. Additionally, Oklo has signed a non-binding letter of intent with Diamondback Energy for a 20-year power purchase agreement and expects to deploy its first commercial advanced reactor in the US before the end of the decade.

Key Takeaways

  • Oklo Inc. is going public through an $850 million SPAC deal with Sam Altman as chairman.
  • AltC Acquisition Corp's shares have increased by 40% this year and will begin trading as OKLO on NYSE.
  • Oklo has signed a non-binding agreement with Diamondback Energy for a 20-year power purchase agreement.
  • The company aims to deploy its first commercial advanced reactor in the US by the end of the decade.
  • There has been a modest revival in SPACs in the past three months, despite the market's previous decline.


The success of Oklo Inc.'s SPAC deal is a positive indicator for the SPAC market, particularly as it pertains to the clean energy sector. With Sam Altman's prominent involvement, Oklo's public debut on NYSE could attract further investments in advanced nuclear systems and potentially signal a revitalization of SPACs. The power purchase agreement with Diamondback Energy also signifies stable demand and revenue streams for Oklo.

Consequences and Future Developments:

  1. The potential for a revival of SPACs, particularly in the clean energy sector.
  2. Increased investments in advanced nuclear systems and other clean energy startups.
  3. Access to more capital for research and development within Oklo.
  4. Potential benefits for Diamondback Energy, including secure power supply and potential cost savings.

Entities Impacted:

  1. Clean energy startups, especially those involved in nuclear reactor development.
  2. SPAC sponsors and underwriters.
  3. Investors in the SPAC market and the clean energy sector.
  4. Utility companies and energy-intensive industries.

Did You Know?

  • SPAC (Special Purpose Acquisition Company): A shell company that raises capital through an IPO with the purpose of acquiring a private company and taking it public.
  • Sam Altman (Chairman of Oklo Inc.): Former president of Y Combinator and co-founder of OpenAI, playing a significant role in Oklo's strategic decisions.
  • Non-binding Letter of Intent (LOI): Outlines the terms of a proposed business transaction without legal obligation to complete it. Oklo and Diamondback Energy's LOI demonstrates their intention for a long-term partnership without binding commitment.

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