Flame Acquisition Shareholders Vote in Favor of Sable Offshore Business Merger

Offshore Industry Takes Shape: Sable Offshore Corp. and Flame Acquisition Announce Merger

Sable Offshore Corp. has announced that its shareholders have approved its business combination with Flame Acquisition and Sable Offshore Holdings, LLC. The deal is expected to close on or about Feb. 14, and shares of the combined company will begin trading on the New York Stock Exchange on Feb. 15.

In November 2022, the companies entered into their agreement and plan of merger. Under the terms of the deal, Sable Offshore Corp. has agreed to acquire certain offshore California assets from ExxonMobil. Flame Acquisition will have about $62.2 million in its trust account prior to the business combination.

Flame Acquisition made the announcement Monday, stating that shareholders have approved the company’s previously announced business combination among Flame, Sable Offshore Holdings, LLC, and Sable Offshore Corp. The deal is expected to close on or about Feb. 14, and shares of the combined company will begin trading on the New York Stock Exchange on Feb. 15. Stephen Nakrosis can be contacted at stephen.nakrosis@wsj.com for more information about this exciting business development in the offshore industry.

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