Flame Acquisition stockholders approve extension to March 2024; 2.3M shares redeemed

Sable Offshore Corp.

Stockholders approved charter amendment to extend business combination deadline from Sept 1, 2023 to March 1, 2024.
2,328,063 shares of Class A common stock were redeemed at $10.31 per share, removing ~$24M from the trust account.
Votes: 11,849,092 for, 481,464 against; quorum of ~78.9% of outstanding common stock was present.
Extension provides additional time to complete the proposed Sable Offshore business combination.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Sable Offshore Corp.: Amended and Restated Certificate of Incorporation to extend business combination deadline from September 1, 2023 to March 1, 2024 (effective 2023-08-29).

Change: charter amendment
Effective: 2023-08-29

Exact text from the filing

The Second Extension Amendment extends the date by which Flame must consummate its initial business combination from September 1, 2023 to March 1, 2024.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

Sable Offshore Corp. shareholders approved Amend the A&R Charter to extend the date by which Flame must consummate a business combination from September 1, 2023 to March 1, 2024. at the 2023-08-29 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-08-29

Exact text from the filing

The stockholders of Flame voted on a proposal to amend the A&R Charter to extend the date by which Flame must consummate a business combination (the “Second Extension Amendment Proposal”). A summary of the voting results at the Special Meeting is set forth below: The Second Extension Amendment Proposal – To approve and amend the A&R Charter to extend the date by which Flame must consummate a business combination from September 1, 2023 to March 1, 2024. For Against Abstain 11,849,092 481,464 0

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Sable Offshore Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-226415

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