PRESS RELEASE2 MIN READ
Management and AltC sponsor shares remain subject to long-term lock-up agreements
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Oklo Inc. (NYSE: OKLO) (“Oklo” or the “Company”), a fast fission clean power technology and nuclear fuel recycling company, earlier today filed a registration statement on Form S-1 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”).
The Registration Statement was filed as a standard administrative matter to initiate the process of registering 62,440,080 shares of common stock of the Company (“Common Stock”) that are currently unregistered for resale. The Registration Statement was required to be filed within 30 days of close of the Company’s initial business combination and all unregistered shares of Common Stock covered by the Registration Statement were previously detailed in the registration statement on Form S-4 (the “Form S-4”) initially filed with the SEC on September 27, 2023, in connection with the Company’s initial business combination. The Company has not registered any new shares for primary issuance to the public through the Registration Statement.
The Registration Statement does not create freely tradable shares today. All shares of Common Stock covered by the Registration Statement are subject to either contractual lock-up restrictions or performance vesting requirements, as previously disclosed in the Form S-4. In particular, the shares of Common Stock currently held by certain members of Oklo management and AltC Acquisition Sponsor LLC are subject to long-term lock-up restriction that expires in several tranches over a three-year period from the closing of the business combination, subject to earlier expiration upon the satisfaction of certain conditions related to the closing price of the Common Stock.
While the Registration Statement has been filed with the SEC, it has not yet become effective, and the information contained therein is subject to change.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Oklo Inc.
Oklo Inc. is developing fast fission power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded fuel material from Idaho National Laboratory, submitted the first advanced fission custom combined license application to the Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.