Sable Offshore raises $150M via PIPE offering of 7.5M shares at $20/share

Sable Offshore Corp.

Subscription agreements signed Sep 19, 2024; closing on Sep 23, 2024.
Issued 7.5M common shares at $20 each for aggregate proceeds of approximately $150M.
Shares issued in private placement exempt from registration under Section 4(a)(2) of Securities Act.
Prior to PIPE, Sable had 65,090,441 shares outstanding as of Sep 19, 2024.
New shares represent material dilution to existing stockholders.

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