AltC Acquisition Corp. Extends Business Combination Date and Maintains Over $300 Million in Trust Account

AltC Acquisition Corp. (NYSE:ALCC) has announced that its stockholders have voted to approve a proposal to extend the date for the company to consummate a business combination. The new deadline has been extended from October 12, 2023, to July 12, 2024. This extension will provide AltC with more time to finalize its proposed transaction with Oklo Inc., an advanced fission technology and nuclear fuel recycling company.

AltC is pleased to announce that it will have over $300 million remaining in its trust account, even after accounting for redemptions by its stockholders. To allow stockholders an opportunity to reverse their redemption elections, AltC has extended the deadline for redemption reversals until 5:00 p.m. Eastern Time on October 11, 2023. Stockholders who wish to reverse their redemption elections must submit a written request to AltC’s transfer agent, Continental Stock & Transfer Company.

The proposed transaction between AltC and Oklo is expected to result in Oklo becoming the first publicly traded advanced fission company focused on selling clean, reliable energy directly to customers and nuclear fuel recycling services to the U.S. market. Oklo has recently made significant progress, including its tentative selection as the contractor awardee to provide power and heat to the Eielson Air Force Base in Alaska. Additionally, Oklo has signed a new Memorandum of Understanding with Centrus Energy Corp., outlining collaboration activities supporting the development and operation of Oklo’s Aurora powerhouses.

AltC and Oklo anticipate closing the transaction in late 2023 or early 2024, subject to approval by AltC shareholders, the effectiveness of the Registration Statement by the U.S. Securities and Exchange Commission (SEC), and other customary closing conditions. Upon completion of the transaction, the combined company will operate as Oklo and is expected to be listed on the New York Stock Exchange under the ticker symbol “OKLO.”

AltC Acquisition Corp. was formed with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

For more information about the proposed transaction and relevant documents, shareholders and interested parties are advised to visit AltC’s website or the SEC’s website.