Street Calls of the Week
Oklo Inc. (NYSE:OKLO), currently trading at $72.23 with a market capitalization of $10.68 billion, announced Wednesday that it has filed a new prospectus supplement with the Securities and Exchange Commission, updating its ongoing at-the-market equity offering. The company may now offer and sell shares of its Class A common stock with an aggregate gross sales price of up to approximately $139.999 million. According to InvestingPro data, the company maintains strong liquidity with cash reserves exceeding debt levels.
The new prospectus supplement, filed under Oklo’s shelf registration statement on Form S-3, replaces a prior supplement dated June 10, 2025, which authorized sales of up to $400 million in common stock. Oklo reported that it has already issued and sold 5,458,953 shares under the previous supplement, generating gross proceeds of about $400 million.
The equity offering is being conducted through an Equity Distribution Agreement dated June 2, 2025, with Goldman Sachs & Co. LLC, BofA Securities, Inc., B. Riley Securities, Inc., and TD Securities (USA) LLC. With the filing of the new supplement, Oklo will not make any further offers or sales under the prior supplement.
The shares are registered under the company’s shelf registration statement, which was declared effective by the SEC on June 12, 2025. The company stated that any future offerings under this program will be made only by means of the new prospectus supplement.
Latham & Watkins LLP, counsel to Oklo, has provided a legal opinion related to the shares, which is included as an exhibit to the filing.
The information in this article is based on a statement in Oklo’s Form 8-K filing with the SEC.
In other recent news, Oklo Inc. announced its selection for three U.S. Department of Energy reactor pilot projects. The company, along with its subsidiary Atomic Alchemy Inc., will participate in the newly established Reactor Pilot Program, which aims to demonstrate criticality in at least three test reactors by July 2026. Additionally, Oklo has set up a digital monitoring room at its headquarters in Santa Clara, California, in partnership with ABB. This facility will serve as the company’s operator training and simulation center, utilizing advanced technology for automated operations.
In terms of analyst ratings, BofA Securities initiated coverage on Oklo with a Buy rating and a $92 price target, citing the company’s build-own-operate business model. UBS also began coverage, assigning a Neutral rating and a $65 price target, noting Oklo’s substantial total addressable market and profit potential. Meanwhile, Wedbush reiterated its Outperform rating with an $80 price target, expressing confidence in Oklo’s long-term vision. These developments highlight Oklo’s ongoing efforts and potential in the advanced nuclear technology sector.
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