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SANTA CLARA, Calif. - Advanced nuclear technology company Oklo Inc. (NYSE: OKLO), currently valued at $9.53 billion and trading near its 52-week high at $68.11, announced Wednesday it has commenced an underwritten public offering of $400 million of common stock shares. The company, which has seen its stock surge 455% over the past year according to InvestingPro data, also plans to grant underwriters a 30-day option to purchase up to an additional $60 million in shares.
Goldman Sachs & Co. LLC and BofA Securities are serving as lead book-running managers for the offering, with Citigroup and J.P. Morgan acting as book-running managers. The offering is expected to close on June 16, 2025, subject to customary closing conditions.
According to the press release statement, Oklo intends to use the net proceeds for general corporate purposes, working capital, capital expenditures, and potential future investments.
The company, which develops fast fission power plants, has filed a registration statement on Form S-3 with the Securities and Exchange Commission, though it has not yet become effective. The common stock cannot be sold until the registration statement becomes effective.
Oklo was the first company to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission.
The offering remains subject to market conditions, with no assurances provided regarding its completion or final terms.
In other recent news, Oklo Inc. has received a Notice of Intent to Award from the Defense Logistics Agency Energy to deploy its Aurora nuclear powerhouse at Eielson Air Force Base in Alaska. This project is part of the Department of the Air Force’s initiative to enhance energy resilience for critical national security infrastructure. Additionally, Oklo has reached a regulatory milestone as the U.S. Nuclear Regulatory Commission (NRC) begins reviewing its Licensed Operator Topical Report, which proposes a novel approach to licensing nuclear plant operators. This development could expedite the licensing process for Oklo’s future powerhouses.
At Oklo’s recent annual stockholder meeting, Michael Klein and Lieutenant General (ret.) John Jansen were elected as Class I directors, and the ratification of Deloitte & Touche LLP as the company’s independent auditor was approved. In analyst news, Craig Hallum reaffirmed a Buy rating for Oklo, citing the growing demand for advanced nuclear solutions. Furthermore, Oklo has publicly supported a series of executive orders from the White House aimed at accelerating the deployment of advanced nuclear energy technologies. These orders are intended to streamline testing and licensing processes, reinforcing America’s energy independence.
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