11:26 AM EDT, 04/08/2024 (MT Newswires) -- AltC Acquisition ( ALCC ) shares soared more than 19% in recent Monday trading after Oklo, with which it has a pending merger deal, announced a potential power supply collaboration.

Oklo, a fission technology and nuclear fuel recycling company, said it signed a non-binding letter of intent to supply 50 megawatts to Diamondback Energy's operations in the Permian Basin.

Terms of the collaboration on a 20-year power purchase agreement weren't disclosed.

AltC Acquisition ( ALCC ) and Oklo have agreed to merge, with the combined company to be listed on the New York Stock Exchange under the ticker symbol "OKLO."

Price: 15.63, Change: +2.53, Percent Change: +19.32