Sable Offshore Holdings, LLC and Sable Offshore Corp. have agreed to a business combination with blank-check company Flame Acquisition. The deal is expected to close on or about February 14th, with shares of the combined company, Sable Offshore Corp., beginning trading on the New York Stock Exchange on the following day.
In November 2022, the companies entered into their agreement and plan of merger. As part of the deal, Sable Offshore Corp. will acquire certain offshore California assets from ExxonMobil. Flame Acquisition will have approximately $62.2 million in its trust account prior to the business combination.
The announcement was made by Flame Acquisition on Monday, and shares of the combined company are expected to begin trading on the New York Stock Exchange on February 15th. Stephen Nakrosis can be reached at firstname.lastname@example.org for more information about this exciting development in the world of mergers and acquisitions.