Sable Offshore Corp. Announces $150 Million Private Placement of Shares and Update on Warrant Exercises
Sable Offshore Corp. (SOC)
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Sable Offshore Corp. (NYSE: SOC, “Sable”, or the “Company”) today announced it has entered into subscription agreements to issue 7,500,000 shares of its common stock in a private placement to institutional investors. Sable expects to receive gross proceeds of approximately $150 million, before deducting placement agent fees and other offering expenses.The private placement is expected to close on September 23, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the proceeds from the private placement for capital expenditures, working capital, and other general corporate purposes.Sable also announced that as of September 18, 2024, it has received proceeds of $64,829,491 from the exercise of outstanding warrants to purchase the Company’s common stock. Sable has issued 5,637,347 shares of its common stock to exercising warrant holders. The Company intends to use the proceeds from the warrant exercises for capital exp
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News
- Sable Offshore Corp. Announces Redemption of Public WarrantsBusiness Wire
- Sable Offshore Corp. (NYSE: SOC) had its price target raised by analysts at Benchmark Co. from $24.00 to $37.00. They now have a "buy" rating on the stock.MarketBeat
- Sable Offshore Corp. (NYSE: SOC) had its price target raised by analysts at Jefferies Financial Group Inc. from $19.00 to $32.00. They now have a "buy" rating on the stock.MarketBeat
- Sable Offshore Corp. Reports Second Quarter 2024 Financial and Operational Results [Yahoo! Finance]Yahoo! Finance
- Sable Offshore Corp. Reports Second Quarter 2024 Financial and Operational ResultsBusiness Wire
SOC
Sec Filings
- 10/3/24 - Form 424B3
- 10/3/24 - Form 8-K
- 10/3/24 - Form 424B3
- SOC's page on the SEC website