Altman-Backed Nuclear Developer Nabs Approval for SPAC Merger [BNN Bloomberg (Canada)]
AltC Acquisition Corp. Class A (ALCC)
Company Research
Source: BNN Bloomberg
Oklo Inc., which counts the OpenAI Inc. chief executive officer as its chairman, will likely debut on the New York Stock Exchange in the coming days after clearing a final hurdle. The combination with AltC Acquisition Corp., a special-purpose acquisition company backed by Altman and veteran dealmaker Michael Klein, valued Oklo at $850 million when the agreement was unveiled in July. Shares of AltC were volatile on Tuesday after the deal vote, slipping to $14 after investors approved the merger, though it traded at a more than 30% premium to the roughly $10.41 investors could've opted to redeem shares for when approving the merger. The deal could deliver some $290 million to the company, based on the cash the SPAC had in its trust, though investors may have pulled money from the pot when the tie-up was approved. The stock had increased more than 40% this year prior to Tuesday's vote as it captured the attention of retail traders. A flurry of announcements paired with Oklo executiv
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ALCC
News
- Oklo Signs MOU with Atomic Alchemy to Collaborate on Isotope Production [Yahoo! Finance]Yahoo! Finance
- Sam Altman-backed Nuclear Start-up Crashes After Wall Street Debut [Barron's]Barrons
- Sam Altman takes nuclear energy company Oklo public to help power his AI ambitions [MSNBC.com]MSNBC.com
- Altman-Backed Oklo's Shares Slump in Debut After Hot SPAC Deal [Yahoo! Finance Canada]Yahoo! Finance Canada
- Altman-Backed Oklo's Shares Slump in Debut After Hot SPAC Deal [Financial Post (Toronto, Ontario, Canada)]Financial Post
ALCC
Sec Filings
- 5/9/24 - Form 8-K
- 5/8/24 - Form 10-Q
- 5/8/24 - Form 8-K
- ALCC's page on the SEC website