Altman-Backed Nuclear Developer’s SPAC Merger Wins Approval
- Oklo deal set to close Thursday, debut on NYSE on Friday
- Shareholder vote comes as SPAC market sees modest revival
Sam Altman
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
A developer of advanced nuclear systems backed by Sam Altman won investor approval to go public via a blank-check deal, sounding a rare positive note for the moribund SPAC market.
Oklo Inc., which counts the OpenAI Inc. chief executive officer as its chairman, is expected to close the deal on Thursday and debut on the New York Stock Exchange on Friday under the symbol OKLO, according to a statement. 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.