Oklo lines up 10 Wall Street banks as it readies up to $1B equity sale program

Advanced nuclear developer Oklo has engaged ten major Wall Street financial institutions to manage an at-the-market equity offering of up to $1 billion, according to a new release. The program gives the company a flexible mechanism to raise capital by selling shares gradually into the open market rather than through a single underwritten offering.

Oklo, classified in the utilities sector as an independent power producer, is developing fission power plants aimed at delivering energy at scale for U.S. customers. Its flagship Aurora Powerhouse is designed to generate between 15 and up to 75 megawatts of electricity, and the company is also working to commercialize nuclear fuel recycling and fuel fabrication capabilities.

Shares of Oklo traded up 3.33% to $41.27 in Monday’s session, up from a previous close of $39.94, valuing the company at roughly $6.76 billion. The move follows a period of heightened investor interest in next-generation nuclear power, driven in part by growing electricity demand from data centers and AI infrastructure buildouts.

At-the-market programs are a common capital-raising tool for growth-stage companies, allowing them to time share sales to favorable market conditions while minimizing price disruption. A $1 billion program is substantial relative to Oklo’s current market capitalization, underscoring the significant capital requirements associated with developing and licensing new nuclear reactor technology, which typically involves years of regulatory review and construction spending before revenue materializes.

The involvement of ten institutions suggests broad distribution capacity for the offering, giving the company multiple channels through which to execute sales as it funds its development pipeline. Oklo has positioned itself among a cohort of advanced fission startups racing to deploy small-scale reactors, where access to capital markets remains a key competitive factor alongside technical progress and regulatory milestones.

Source: original release

What to watch

• Future regulatory filings disclosing how much of the $1 billion program has been utilized and at what average prices.
• Progress updates on Nuclear Regulatory Commission licensing for the Aurora Powerhouse.
• Announcements of customer agreements or deployment timelines for the company’s reactor designs.
• Oklo’s next quarterly earnings report, including cash position and spending outlook.