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Investing.com -- Oklo Inc. (NYSE:OKLO) shares fell 7% in after-hours trading, paring earlier intraday gains of 30%, following the announcement of a proposed $400 million public offering of common stock.
The advanced nuclear technology company said it plans to offer $400 million of common stock and will grant underwriters a 30-day option to purchase up to an additional $60 million of shares. Oklo intends to use the net proceeds for general corporate purposes, working capital, capital expenditures, and potential future investments.
Goldman Sachs & Co (NYSE:GS). LLC and BofA Securities are serving as lead book-running managers for the offering, while Citigroup (NYSE:C) and J.P. Morgan are acting as book-running managers. The offering is expected to close on June 16, 2025, subject to customary closing conditions.
The share offering announcement comes at a time when Oklo had been experiencing significant upward momentum during the regular trading session, with the stock climbing 30% before the after-hours decline. Secondary offerings typically lead to stock price declines as they signal potential dilution of existing shareholders’ stakes.
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