Sable Offshore Corp. has announced an upsized public offering of its common stock, increasing the number of shares from the previously announced amount. The company will offer 8,695,654 shares at a price of $29.50 per share, aiming to raise approximately $256.5 million in gross proceeds. The offering includes an option for underwriters to purchase an additional 1,304,346 shares. The proceeds are intended for capital expenditures, working capital, and general corporate purposes. The offering is set to close on May 23, 2025, with J.P. Morgan, Jefferies, and TD Cowen acting as joint book-running managers.
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