• Sat. Feb 24th, 2024

Flame Acquisition Announces $62.2 Million Deal with Sable Offshore Corp. for Certain Offshore Assets

ByEditor

Feb 13, 2024
Flame Acquisition Shareholders Vote in Favor of Sable Offshore Business Merger

In November 2022, the companies Flame Acquisition, Sable Offshore Holdings, LLC, and Sable Offshore Corp. entered into an agreement and plan of merger. The deal involves the acquisition of certain offshore California assets from ExxonMobil by Sable Offshore Corp. Flame Acquisition will have about $62.2 million in its trust account prior to the business combination.

The deal is expected to close on or about Feb. 14, and shares of the combined company, Sable Offshore Corp., are expected to begin trading on the New York Stock Exchange on Feb. 15, Flame Acquisition announced Monday. The blank-check company’s shareholders have approved the business combination among Flame, Sable Offshore Holdings, LLC, and Sable Offshore Corp., according to a statement released by Flame Acquisition.

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