OKLO stock alert: 7 things to know as Sam Altman-backed Oklo begins trading today

Oklo (NYSE:OKLO) stocks are a hot topic on Friday as shares of the clean energy technology and nuclear fuel recycling company began trading today.

Let’s dive into everything investors need to know about the OKLO stock IPO below!

OKLO shares go public

• Oklo is now trading on New York Stock Exchange under the OKLO stock ticker.
• This happened after a special purpose vehicle for acquisitions was completed (SPAC) Merged with AltC Acquisition Corp yesterday.
• Sam Altman was a key force behind this SPAC merger, as he is chairman of Oklo and previously served as CEO of AltC Acquisition.
• This SPAC merger resulted in Oklo raising $306 million in gross proceeds.
• Oklo intends to use these funds for its business plan, which includes the “initial deployment” of its Aurora powerhouse.
• Oklo plans to use its owner-operator model to generate consistent “recurring revenue and cash flow streams” through long-term power contracts.
• The company says there is already interest in its data center and artificial intelligence products (AI), industrial, defense and energy markets.

Oklo Chairman and OpenAI CEO Sam Altman said the following about Oklo’s IPO in a press release:

“As one of the company’s early investors, I have seen firsthand how Oklo has proven to be a leader and innovator in clean energy, developing a cost-competitive go-to-market strategy and cementing key relationships with regulators, customers and suppliers. There are enormous growth opportunities ahead of us.”

OKLO stock was down 30.9% as of Friday afternoon.

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At the time of publication, William White did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.

Article printed by InvestorPlace Media, https://investorplace.com/2024/05/oklo-stock-alert-7-things-to-know-as-sam-altman-backed-oklo-starts-trading-today/.

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