Jacob DeWitte, the Co-Founder and CEO of Oklo Inc. (NASDAQ:OKLO), has recently sold a significant portion of his holdings in the company. According to the latest SEC filing, DeWitte disposed of 230,569 shares of Class A Common Stock on December 20, 2024. The sale comes as Oklo, currently valued at $2.69 billion, has seen its stock surge 138.58% over the past six months. InvestingPro analysis indicates the stock trades with high volatility and often moves independently of broader market trends. The shares were sold at a weighted average price ranging from $20.2428 to $21.628 per share, totaling approximately $4.98 million.
Following these transactions, DeWitte holds 12,543,085 shares indirectly, as noted in the filing. The sales were conducted in multiple transactions, with specific prices ranging from $20.075 to $21.7508 per share. The shares are reported to be held indirectly by Caroline Cochran, DeWitte's spouse.
In other recent news, Oklo Inc. has seen significant progress in the clean energy sector. The company's recent developments include a non-binding Master Power Agreement with Switch (NYSE:SWCH), plans to acquire Atomic Alchemy Inc., and the initiation of coverage by Wedbush and Citi. The agreement with Switch outlines the provision of 12 gigawatts of power from Oklo's Aurora powerhouses through 2044, a partnership expected to boost Oklo's operations while supporting the construction of its powerhouses across the United States.
The planned acquisition of Atomic Alchemy aims to enhance the supply chain for critical isotopes, vital for clean energy production in remote and off-grid environments. On the analyst front, Wedbush initiated coverage on Oklo shares with an Outperform rating, highlighting Oklo's innovative approach to providing nuclear power. Meanwhile, Citi maintained a neutral stance.
Oklo also issued 2.5 million shares following a price milestone, linked to a merger agreement with AltC Acquisition Corp. and Oklo Technologies Inc. Additionally, the company secured an Environmental Compliance Permit for its first commercial advanced fission power plant site at the Idaho National Laboratory. These developments are part of Oklo's ongoing efforts to advance in the clean energy sector.
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