Sable Offshore Corp. Approved for Business Combination with Flame Acquisition, Acquires ExxonMobil’s Offshore Assets in California


Shareholders of Flame Acquisition vote in favor of merging with Sable Offshore

Sable Offshore Corp. has received approval from its shareholders for a business combination with Flame Acquisition, a blank-check company, and Sable Offshore Holdings, LLC. The deal is set to close on or around Feb. 14, with shares of the combined company expected to trade on the New York Stock Exchange on Feb. 15.

As part of the agreement, Sable Offshore Corp. will be acquiring offshore California assets from ExxonMobil. Flame will have approximately $62.2 million in its trust account before the business combination is finalized.

This plan was entered into in November 2022 and has been approved by both companies’ shareholders. For more information about this merger and acquisition deal, contact Stephen Nakrosis at stephen.nakrosis@wsj.com.

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