Oklo Secures $1 Billion Equity Distribution Agreement with Ten Banks

Oklo, an advanced nuclear fission company chaired by Sam Altman, has entered into a new at-the-market equity distribution agreement that allows it to sell up to $1 billion in Class A common stock. This agreement, announced on May 13, 2026, comes after the company fully utilized a previous fundraising facility that generated approximately $1.5 billion in gross proceeds from the sale of about 15.77 million shares.

The new agreement enables Oklo to sell shares gradually at prevailing market prices, with ten investment banks acting as selling agents. These banks will earn commissions of up to 1.5% on gross proceeds, and the program operates under Oklo's Form S-3 shelf registration, which became effective on December 4, 2025.

Oklo is focused on developing small modular reactors, which are designed to be smaller, cheaper, and faster to deploy than traditional nuclear reactors. The company aims to power energy-intensive applications, particularly in artificial intelligence data centers, positioning itself at the intersection of clean energy and AI infrastructure. As Oklo remains in the pre-revenue stage, it relies on capital markets for funding its operations, indicating a significant need for continued investment as it navigates the regulatory landscape.

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Source: KLEA News