secwatch.observer — SEC 8-K summary
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Issuer:     Sable Offshore Corp. (SOC)
CIK:        0001831481
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001193125-24-258796
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sable Offshore Q3 net loss of $255.6M; continues CCC coordination on pipeline repairs
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- Net loss of $255.6M largely from non-cash change in warrant liabilities and restart costs; no revenue reported.
- Cash and equivalents $288.2M, debt $814.4M; gross equity raised $222.5M in quarter.
- Conditional settlement with Santa Barbara County acknowledges county lacks jurisdiction over pipeline safety valve installation.
- California Coastal Commission halted work in Coastal Zone; Sable working on interim plan to fill open excavations (approx. 7 days).
- Public warrants redeemed Nov 4 for $183.5M gross; shares outstanding 89.1M as of Nov 13.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831481/000119312524258796/0001193125-24-258796-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831481/000119312524258796/d894574d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-258796

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