Sable Offshore Closes Offering of 10MM Shares
Sable Offshore Corp. closed its upsized public offering of 10 million shares of common stock at $29.50 per share, according to a May 23 press release.
In the offering's previous announcement May 22, Sable said it was offering 8.69 million shares at $29.50 each.
Gross proceeds from the offering were approximately $295 million, before deducting discounts and commissions and estimated expenses, Sable said.
Net proceeds will be used toward capex, working capital purposes and general corporate purposes, Sable said.
The company also granted underwriters an option to purchase an additional 1.3 million shares.
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