Sable Offshore Corp. To Raise $400M Through Stock And Convertible Note Offerings

Sable Offshore Corp. (NYSE: SOC ) today announced its intention to offer, subject to market and other conditions, $100.0 million of common stock and $300.0 million aggregate principal amount of convertible senior notes due 2031 (the "notes") in separate public offerings registered under the Securities Act of 1933, as amended. Sable also expects to grant the underwriters of the common stock offering a 30-day option to purchase up to an additional $15.0 million of common stock solely to cover over-allotments, and expects to grant the underwriters of the notes offering a 30-day option to purchase up to an additional $45.0 million aggregate principal amount of notes solely to cover over-allotments. J.P. Morgan is acting as sole book-running manager for the common stock offering and the notes offering. The notes will be senior, unsecured obligations of Sable, will accrue interest payable s...