2023-07-11 11:10:32 ET
Oklo said on Tuesday that it had agreed to go public through a merger with Sam Altman's blank-check firm AltC Acquisition Corp in a deal that values the nuclear-startup at $850 million.
AltC Acquisition Corp shares fell -1.8% .
Altman, the CEO of OpenAI, co-founded AltC with Churchill Capital in July 2021, and has served as the chairman of Oklo since 2015.
Oklo expects the transaction to secure the combined company up to $500 million in capital. After the closing of the deal, the combined company will operate as Oklo, and trade on the New York Stock Exchange under the ticker "OKLO".
For further details see:
Sam Altman backed nuclear startup Oklo to go public via SPAC merger