A nuclear fission start-up backed by OpenAI chief executive Sam Altman is to go public through a merger with a special purpose acquisition company (Spac) in a deal that values the business at $850m (€770m).
Oklo, where Altman serves as board chair, has agreed a transaction with AltC Acquisition Corporation, a blank-cheque company set up by Altman and former Citigroup executive Michael Klein.
The deal is expected to provide the California-based group with $500m. The capital that Oklo raises by going public will go towards ramping up its supply chain and procurement processes and building a pilot scale production facility for its reactor, which it calls Aurora.