Sable Offshore Corp. has announced the launch of a public offering of $200 million in common stock, with the possibility of an additional $30 million available to underwriters through a 30-day option. The company plans to utilize the net proceeds from this offering for capital expenditures, working capital, and general corporate purposes. J.P. Morgan, Jefferies, and TD Cowen are acting as joint book-running managers for the offering. The registration statement for this offering has already been filed and approved by the SEC, and further details will be provided in the final prospectus supplement. The completion of the offering is contingent on market conditions.
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