Sable Offshore Corp. Announces Proposed Public Offering of Common Stock
Sable Offshore Corp. (“Sable” or the “Company”) (NYSE: SOC) today announced the commencement of an underwritten public offering of $200,000,000 of shares of its common stock, $0.0001 par value (“common stock”), by the Company. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional $30,000,000 of shares of common stock from the Company.
The Company intends to use net proceeds of the offering for capital expenditures, working capital purposes and general corporate purposes.
The offering is subject to general market conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the size or terms of the offering.
J.P. Morgan, Jefferies and TD Cowen are acting as joint book-running managers and representatives of the underwriters of the proposed offering.
The registration statement on Form S-3 (including the accompanying prospectus) relating to the proposed offering has been filed with the Securities and Exchange Commission (the “SEC”) and became effective on May 1, 2025. Copies of the prospectus supplement relating to the offering, when filed, may be obtained on the SEC’s website located at https://www.sec.gov. When available, copies of the prospectus supplement related to the offering may also be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at [email protected] and [email protected]; Jefferies LLC, at Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at 877-821-7388, or by email at [email protected] or TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (833) 297-2926 or by email at [email protected]. The final terms of the offering will be disclosed in the final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of the Company’s common stock or any other securities, nor shall there be any sale of such shares of common stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offers, solicitations or offers to buys, or any sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended.