secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sable Offshore Corp. (SOC)
CIK:        0001831481
Form:       8-K
Filed at:   2023-08-31T23:59:59+00:00
Accession:  0001193125-23-226354
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flame Acquisition Corp. issues $1.13M in promissory notes to sponsor for working capital
--------------------------------------------------------------------------------

- Two notes: $635,000 (Flame Expenses) and $495,000 (Sable Expenses) to Flame Acquisition Sponsor LLC.
- Notes are non-interest bearing, repayable upon completion of business combination; forgiven if no deal.
- $635,000 note convertible into working capital warrants at $1.00 per warrant, identical to IPO private placement warrants.
- $495,000 note for Sable Offshore Corp./Holdings out-of-pocket expenses; no conversion option.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831481/000119312523226354/0001193125-23-226354-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831481/000119312523226354/d501199d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-226354

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer