Oklo $OKLO ( ▼ 6.25% ) slipped Friday morning after revealing a new at-the-market equity offering program that allows the nuclear energy company to sell up to $1.5 billion in stock. The filing, released after Thursday’s close, shows Oklo partnered with several financial institutions to execute the program.
Shares are down about 5.5 percent as of 7:20 a.m. ET. This marks Oklo’s third equity offering of the year, according to Bloomberg data.
The move comes after a sharp run-up in the stock, which surged nearly 30 percent over the last three sessions amid heavy options activity. The company still has no revenues and trades at an unusually high valuation, which has made each equity sale a pressure point for investors.