Natural gas exploration company Sable Offshore in an 8-K announced the completion of its merger with Flame Acquisition. The SPAC’s shareholders approved the deal Feb. 12.
Sable shares and warrants begin trading today on the NYSE under ticker symbols SOC and SOC.WS.
The deal included a $440,249,100 PIPE. Flame also had $62.2 million cash remaining in trust after redemptions ahead of the merger vote.
Sable has an agreement to acquire the Santa Ynez oil field in Federal waters off the California coast and associated onshore processing and pipeline assets from Exxon Mobil and Mobil Pacific Pipeline Company for $625 million. Read more.
