30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. EVP, Chief Operating Officer Bourgeois Doss R received 650,000 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. insider Pipkin Gregory Phillip received 52,778 shares as part of the equity award.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. President Flores James Caldwell received 650,000 shares as part of the equity award.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. insider Gregory Phillip Pipkin acquired 196,875 shares and disposed of 96,875 in a set of related equity transactions.
30 Apr 2024securities registration● Neutral
Sable Offshore Corp. amended a filing by which it registered a securities offering with the SEC.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. insider Duenner Anthony received 650,000 shares as part of the equity award.
30 Apr 2024director interest notice● Neutral
Sable Offshore Corp. insider Sarofim Christopher Binyon received 52,778 shares as part of the equity award.
12 Apr 2024securities registration● Neutral
Sable Offshore Corp. amended a filing by which it registered a securities offering with the SEC.
27 Mar 2024director interest notice● Neutral
Sable Offshore Corp. 10%+ owner Pilgrim Global Icav bought 250,000 shares on the open market at $2.00.
22 Mar 2024director interest notice● Neutral
Pilgrim Global Icav became a Sable Offshore Corp. 10%+ owner and company insider (initial ownership filing).
22 Mar 2024substantial holder notice● Neutral
Pilgrim Global ICAV, Pilgrim Global Advisors LLC disclosed a new substantial Sable Offshore Corp. shareholding (12.60% of votes).
16 Feb 2024director interest notice● Neutral
Sable Offshore Corp. EVP, CFO Gregory D. Patrinely acquired 328,542 shares and disposed of 71,875 in a set of related equity transactions.
16 Feb 2024director interest notice● Neutral
Sable Offshore Corp. Chairman & CEO James C Flores acquired 13,087,620 shares and disposed of 4,263,750 in a set of related equity transactions.
16 Feb 2024director interest notice● Neutral
Sable Offshore Corp. President James Caldwell Flores received 221,667 shares as an equity award and bought 300,000 shares on the open market.
16 Feb 2024director interest notice● Neutral
Sable Offshore Corp. insider Gregory Phillip Pipkin acquired 171,875 shares and disposed of 71,875 in a set of related equity transactions.
16 Feb 2024director interest notice● Neutral
Sable Offshore Corp. insider Duenner Anthony received a stock option grant for 221,666 shares.
16 Feb 2024director interest notice● Neutral
Sable Offshore Corp. insider Christopher Binyon Sarofim acquired 6,096,875 shares and disposed of 96,875 in a set of related equity transactions.
15 Feb 2024listing compliance notice● NeutralMajor
Sable Offshore Corp.'s exchange filed to remove a class of its securities from listing.
14 Feb 2024securities registration● Neutral
Sable Offshore Corp. registered a securities offering with the SEC.
14 Feb 2024business combination▼ BadMajor
The merger closed: Flame renamed itself Sable Offshore Corp and simultaneously completed the $625 million purchase of ExxonMobil's Santa Ynez Unit assets, taking on a $606.25 million, 10%-interest, 5-year secured term loan from Exxon to help pay for it. At the last minute, one PIPE investor failed to fund its $125 million commitment (citing its own investors' capital-call problems); other investors, including CEO James Flores personally, covered $55 million of the gap, but the PIPE still closed about $80 million short of its original $520 million target.
14 Feb 2024substantial holder notice● Neutral
Fort Baker Capital Management LP, Steven Patrick Pigott, Fort Baker Capital, LLC reported a Sable Offshore Corp. shareholding of 685,465 shares (5.16% of votes) in a periodic institutional filing.
13 Feb 2024substantial holder notice● Neutral
Hartree Partners, LP reported no remaining Sable Offshore Corp. shareholding in its periodic institutional filing.
9 Feb 2024agm notice● Neutral
Sable Offshore Corp. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
9 Feb 2024business combination▲ GoodMajor
Flame set its shareholder vote for February 12, 2024. At the redemption deadline, holders of only 2.47% of public shares chose to cash out, leaving about $62.2 million in the trust account -- a strong sign that most shareholders wanted to stay in for the Sable deal rather than take their money back.
31 Jan 2024business combination● NeutralMajor
Flame filed its final proxy statement calling a special shareholder meeting for February 12, 2024 to vote on the Sable merger and related items (new charter, incentive plan, NYSE share-issuance approval, adjournment). The board unanimously recommends voting for all of them. Holdco has $520,000,000 of PIPE commitments at $10.00 a share, including $7M from Chairman and CEO James C. Flores, $3M from JCF Capital (managed by President J. Caldwell Flores) and $30M from Victorious Angel Group (managed by director Christopher Sarofim). Existing Flame shares are not affected by the merger, and Sable's own shares are cancelled for no payment.
31 Jan 2024substantial holder notice● Neutral
Harraden Circle Investments, LLC, Harraden Circle Investors GP, LP, Harraden Circle Investors GP, LLC, Harraden Circle Investors, LP, Frederick V. Fortmiller, Jr disclosed a new substantial Sable Offshore Corp. shareholding (9.99% of votes).
23 Jan 2024director interest notice● Neutral
Sable Offshore Corp. President James Caldwell Flores acquired 286,775 shares and disposed of 71,875 in a set of related equity transactions.
23 Jan 2024director interest notice● Neutral
James Caldwell Flores became a Sable Offshore Corp. President and company insider (initial ownership filing).
16 Jan 2024capital raising announcement▲ GoodMajor
On January 12, 2024, Flame and Sable's holding company amended some of the earlier PIPE subscription agreements, and the filing states total PIPE commitments of $520,000,000 for 52,000,000 Flame Class A shares at $10.00, to be bought when the merger closes. That is well above the roughly $254.95M of commitments in the previous summary (December 2023), so the PIPE has grown sharply. The text shown is cut off before the details of the amendments, so what exactly changed is not stated here.
16 Jan 2024agm notice● Neutral
Sable Offshore Corp. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).