Flame Acquisition Corp. to combine with Sable Offshore Corp.; $71.5M PIPE committed

Sable Offshore Corp.

Definitive Merger Agreement with Sable Offshore Corp. and Holdco; Flame to change name to Sable Offshore Corp.
Holdco Class A shares to be converted into 3,000,000 Flame Class A shares; PIPE investors to purchase 7.15M shares at $10 each for $71.5M.
Closing conditions include HSR clearance, stockholder approval, BOEM certification, and contemporaneous close of Sable-EM Purchase Agreement.
Termination date June 30, 2023; Flame Board may change recommendation upon certain intervening events.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sable Offshore Corp. entered into Agreement and Plan of Merger with Sable Offshore Corp. and Sable Offshore Holdings, LLC valued at Merger consideration includes conversion of Holdco Class A shares into 3,000,000 shares of Flame Cla (effective 2022-11-02).

Action: entry
Agreement: merger
Counterparty: Sable Offshore Corp. and Sable Offshore Holdings, LLC
Value: Merger consideration includes conversion of Holdco Class A shares into 3,000,000 shares of Flame Cla
Effective: 2022-11-02

Exact text from the filing

On November 2, 2022, Flame Acquisition Corp., a Delaware corporation (“ Flame ”), entered into an Agreement and Plan of Merger, dated as of November 2, 2022 (as it may be amended, supplemented, or otherwise modified from time to time, the “ Merger Agreement ”), with Sable Offshore Corp., a Texas corporation (“ SOC ”), and Sable Offshore Holdings, LLC, a Delaware limited liability company and the parent company of SOC (“ Holdco ” and, together with SOC, “ Sable ”).

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Sable Offshore Corp. filing history →

Source: SEC EDGAR

accession 0001193125-22-275898

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