secwatch.observer — SEC 8-K summary
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Issuer:     Sable Offshore Corp. (SOC)
CIK:        0001831481
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001193125-23-146087
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flame Acquisition Corp. issues $750K in promissory notes to sponsor for working capital
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- Two unsecured promissory notes issued to Flame Acquisition Sponsor LLC: $395,000 (Flame Expenses Note) and $355,000 (Sable Expenses Note).
- Notes are non-interest bearing, repayable only upon consummation of a business combination; otherwise forgiven except for funds outside trust.
- Sponsor may convert up to $395,000 of the Flame Expenses Note into working capital warrants at $1.00 per warrant upon business combination.
- Sable Expenses Note proceeds used for out-of-pocket expenses of Sable Offshore Corp. or Sable Offshore Holdings, LLC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831481/000119312523146087/0001193125-23-146087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831481/000119312523146087/d433245d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-146087

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