Nuclear firm Oklo goes public with Sam Altman's SPAC in a merger deal

Nuclear fission startup Oklo is planning to go public through a merger with Sam Altman's special-purpose acquisition company (SPAC), as per company officials.

Oklo, which has been developing a small modular nuclear reactor, is reportedly valued at around $850m.

The company's decision to go public through Altman's SPAC comes amidst the decline of SPACs, which at its peak were responsible for 70% of all IPOs, with $95bn raised.

However, the market has since dried up with shares of companies that used the SPAC mechanism crashing. WSJ reports.