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. (NYSE: SOC) had its "sell" rating re-affirmed by analysts at BWS Financial. They now have a $6.00 price target on the stock.MarketBeat
- Here's Greenhaven Road Capital's Investment Thesis for Sable Offshore Corp. (SOC) [Yahoo! Finance]Yahoo! Finance
- Sable Offshore Corp. Continues to Coordinate with California Coastal Commission on Maintenance and Repair Work in the Coastal Zone [Yahoo! Finance]Yahoo! Finance
- Sable Offshore Corp. Reports Third Quarter 2024 Financial and Operational Results [Yahoo! Finance]Yahoo! Finance
- Sable Offshore Corp. Reports Third Quarter 2024 Financial and Operational ResultsBusiness Wire
SOC
Sec Filings
- 11/18/24 - Form 8-K
- 11/14/24 - Form 8-K
- 11/14/24 - Form 424B3
- SOC's page on the SEC website