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 Amendment No. 1 to the Letter Agreement with Flame Acquisition Sponsor LLC, FL Co-Investment LLC, Intrepid Financial Partners L.L.C. and the individuals party to the Letter Agreement valued at up to $3,500,000 (effective 2023-03-24).
- Action
- entry
- Counterparty
- Flame Acquisition Sponsor LLC, FL Co-Investment LLC, Intrepid Financial Partners L.L.C. and the individuals party to the Letter Agreement
- Value
- up to $3,500,000
- Effective
- 2023-03-24
Exact text from the filing
On March 24, 2023, Flame, Flame Acquisition Sponsor LLC (“Sponsor”), FL Co-Investment LLC, Intrepid Financial Partners L.L.C. and the individuals party to that certain Letter Agreement, dated as of February 24, 2021 (the “Letter Agreement”), entered into Amendment No. 1 to the Letter Agreement (the “Amendment”), to amend the Letter Agreement to provide that up to $3,500,000 (rather than $1,500,000) of Sponsor loans to fund Flame’s expenses associated with its formation, initial public offering and the identification, investigation and completion of an initial Business Combination (excluding any Sponsor loan to Flame that is designated to be used by Flame to pay or advance out-of-pocket expenses of a target in connection with a proposed Business Combination) may be convertible into warrants at a price of $1.00 per warrant at the option of the lender.
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