---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-008586"
form_type: "8-K"
ticker: "SOC"
cik: "0001831481"
company_name: "Sable Offshore Corp."
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:25:03.741768+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Flame Acquisition Corp. secures $520M in PIPE commitments for Sable Offshore merger

## Summary
- Total PIPE commitments increased to $520M from prior ~$355M, with new and amended subscription agreements.
- Holdco entered amendments raising max Class B shares from 40M to 52.5M, adding $71.95M in commitments.
- New Additional Holdco PIPE agreement adds $165.05M (16.505M shares at $10 each).
- Flame PIPE subscription agreement adds $100M (10M shares at $10 each), conditioned on merger closing.
- PIPE closings expected concurrently with merger; agreements terminate if not closed by March 1, 2024.

## SEC filing metadata
- accession: 0001193125-24-008586
- form_type: 8-K
- ticker: SOC
- cik: 0001831481
- company_name: Sable Offshore Corp.
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831481/000119312524008586/0001193125-24-008586-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831481/000119312524008586/d594021d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-008586
- JSON: https://secwatch.observer/filing/0001193125-24-008586.json
- Plain text: https://secwatch.observer/filing/0001193125-24-008586.txt

## Key facts
- Material Agreements
  Sable Offshore Corp. amended Holdco PIPE Subscription Agreement Amendment with Holdco PIPE Investors valued at $71,950,000 (effective 2024-01-12).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Holdco PIPE Investors
  - Value: $71,950,000
  - Effective: 2024-01-12
  source text: On January 12, 2024, Holdco entered into amendments to certain Initial Holdco PIPE Subscription Agreements and Additional Holdco PIPE Subscription Agreements (each a “Holdco PIPE Subscription Agreement Amendment”) representing an aggregate commitment amount of $71,950,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831481/000119312524008586/0001193125-24-008586-index.htm
- Material Agreements
  Sable Offshore Corp. entered into Flame PIPE Subscription Agreements with certain investors valued at $100,000,000 (effective 2024-01-12).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: $100,000,000
  - Effective: 2024-01-12
  source text: pursuant to which the Flame PIPE Investors agreed to purchase, in the aggregate, 10,000,000 shares of Flame Common Stock at a price of $10.00 per share, for an aggregate commitment amount of $100,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831481/000119312524008586/0001193125-24-008586-index.htm
- Material Agreements
  Sable Offshore Corp. entered into Additional Holdco PIPE Subscription Agreements with new Additional Holdco PIPE Investors valued at approximately $165,050,000 (effective 2024-01-12).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: new Additional Holdco PIPE Investors
  - Value: approximately $165,050,000
  - Effective: 2024-01-12
  source text: On January 12, 2024, Holdco entered into new Additional Holdco PIPE Subscription Agreements with new Additional Holdco PIPE Investors, pursuant to which the new Additional Holdco PIPE Investors agreed to purchase, in the aggregate, 16,505,000 Holdco Class B shares at a price of $10.00 per share, for an aggregate commitment amount of approximately $165,050,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831481/000119312524008586/0001193125-24-008586-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.