Oklo (OKLO) Registration Filing summary

Company overview and business model

• Founded in 2013, focused on developing clean, reliable, affordable energy solutions at scale, targeting the growing global electricity demand projected to rise over 80% by 2050.

• Commercializing next-generation fast fission power plants (Aurora powerhouses) that run on fresh or recycled nuclear fuel, with a build, own, and operate model selling electricity and heat directly to customers via power purchase agreements (PPAs).

• Developing nuclear fuel recycling technology to convert nuclear waste into usable fuel, aiming for vertical integration and enhanced supply chain security.

• Achieved key regulatory milestones, including a site use permit and fuel award from the U.S. Department of Energy for the Idaho National Laboratory site, and signed major agreements with data center and industrial customers.

• Pipeline includes non-binding agreements with major companies and a 12 GWe Master Power Agreement, with a total order book of approximately 14,100 MWe in capacity.

Financial performance and metrics

• As of March 31, 2025, historical net tangible book value was $233.4 million ($1.68 per share), with an as-adjusted net tangible book value of $632.9 million ($4.32 per share) after the offering.

• Offering could result in immediate dilution of $50.92 per share to new investors, based on an assumed offering price of $55.24 per share.

• 139,188,804 shares of common stock outstanding as of March 31, 2025, with additional shares reserved for options, RSUs, and equity plans.

Use of proceeds and capital allocation

• Net proceeds from the offering are intended for general corporate purposes, working capital, capital expenditures, and potential future investments.

• Management has broad discretion over the use of proceeds, which may not directly increase operating results or enhance stock value.