30 Sept 2022debt financing● Neutral
Flame issued a $170,000 sponsor note.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 Aug 2022quarterly activities report▼ Bad
Flame Acquisition Corp., the blank-check company that became Sable Offshore, filed its quarterly report for the period ended June 30, 2022. The visible text does not show a net loss figure.
16 May 2022quarterly activities report● Neutral
Flame Acquisition Corp., the blank-check company that became Sable Offshore, filed its quarterly report for the three months ended March 31, 2022. The visible text does not show the headline net result.
1 Apr 2022late filing notice▼ Bad
Sable Offshore Corp. notified the SEC that its annual report would be filed late.
1 Apr 2022debt financing● Neutral
Flame issued a further $335,000 sponsor note.
14 Feb 2022substantial holder notice● Neutral
Saba Capital Management, L.P, Boaz R. Weinstein, Saba Capital Management GP, LLC reported a Sable Offshore Corp. shareholding of 1,602,328 shares (5.60% of votes) in a periodic institutional filing.
28 Jan 2022substantial holder notice● Neutral
Sculptor Capital LP, Sculptor Capital II LP, Sculptor Capital Holding Corp, Sculptor Capital Holding II LLC, Sculptor Capital Management, Inc, Sculptor Master Fund, Ltd, Sculptor Special Funding, LP, Sculptor Credit Opportunities Master Fund, Ltd, Sculptor SC II LP, Sculptor Enhanced Master Fund, Ltd disclosed a new substantial Sable Offshore Corp. shareholding (5.16% of votes).
28 Dec 2021debt financing● Neutral
Flame issued another sponsor working-capital note, this one for $800,000, as it continued searching for a deal.
22 Nov 2021quarterly activities report● Neutral
Flame Acquisition Corp. filed its 10-Q for the quarter ended 30 September 2021, restating earlier periods to classify all Class A public shares as temporary equity and correct the earnings-per-share calculation.
17 Nov 2021financial restatement▼ Bad
Flame restated its financials again, this time reclassifying all of its redeemable Class A shares as temporary equity rather than splitting them between temporary and permanent equity -- part of the same SEC-guidance-driven wave of SPAC accounting corrections as its earlier warrant issue.
15 Nov 2021late filing notice▼ Bad
Sable Offshore Corp. notified the SEC that its quarterly report would be filed late.
27 Aug 2021substantial holder notice● Neutral
Saba Capital Management, L.P, Boaz R. Weinstein, Saba Capital Management GP, LLC disclosed a new substantial Sable Offshore Corp. shareholding (5.40% of votes).
16 Aug 2021quarterly activities report● Neutral
Flame Acquisition Corp. reported a net loss of $5.28 million for the quarter ended June 30, 2021, mainly from a $4.9 million increase in the fair value of its warrant liabilities.
1 June 2021listing compliance notice● Neutral
Flame briefly fell out of NYSE compliance for filing its Q1 2021 10-Q late -- a delay caused by new SEC guidance on SPAC warrant accounting -- then regained compliance the same week once the report was filed.
28 May 2021quarterly activities report▼ Bad
Flame Acquisition Corp. filed its first quarterly report, for the quarter ended March 31, 2021, showing net income of $92,735. Its $287.5 million IPO trust account was in place and it had not yet begun operations.
17 May 2021late filing notice▼ Bad
Sable Offshore Corp. notified the SEC that its quarterly report would be filed late.
8 Mar 2021debt financing● Neutral
Flame Acquisition Corp -- a blank-check company (SPAC) that would later become Sable Offshore Corp -- issued a $365,000 no-interest sponsor loan to cover working capital while it searched for a merger target; it is repayable only if a deal closes, forgivable otherwise.
3 Mar 2021director interest notice● Neutral
Sable Offshore Corp. director Dillard Michael E. bought 5,000 shares on the open market at $10.00.
3 Mar 2021director interest notice● Neutral
Sable Offshore Corp. director Pipkin Gregory Phillip bought 15,000 shares on the open market at $10.00.
3 Mar 2021director interest notice● Neutral
Sable Offshore Corp. director Sarofim Christopher Binyon bought 500,000 shares on the open market at $10.00.
2 Mar 2021capital raising announcement● NeutralMajor
Flame Acquisition Corp., then a blank-check company, closed its IPO on March 1, 2021, selling 28,750,000 units at $10.00 each for $287,500,000 gross. Each unit had one Class A share and one-half of a warrant exercisable at $11.50. Another 7,750,000 private warrants were sold at $1.00 each ($7,750,000) to the sponsor and others. $287,500,000 was placed in a trust account, and the filing says the money is released only on a business combination or if public shares are redeemed. This is the start of the company's story, and no target had been named yet.
26 Feb 2021securities registration● Neutral
Sable Offshore Corp. filed the final prospectus for a registered offering.
24 Feb 2021director interest notice● Neutral
Michael E. Dillard became a Sable Offshore Corp. director and company insider (initial ownership filing).
24 Feb 2021listing compliance notice▲ GoodMajor
the exchange certified Sable Offshore Corp.'s securities for listing, clearing them to begin trading.
24 Feb 2021director interest notice● Neutral
Patrinely Gregory D. became a Sable Offshore Corp. CFO & Secretary and company insider (initial ownership filing).
24 Feb 2021director interest notice● Neutral
James C Flores became a Sable Offshore Corp. CEO & President and company insider (initial ownership filing).
24 Feb 2021director interest notice● Neutral
Christopher Binyon Sarofim became a Sable Offshore Corp. director and company insider (initial ownership filing).
24 Feb 2021director interest notice● Neutral
Gregory Phillip Pipkin became a Sable Offshore Corp. director and company insider (initial ownership filing).
22 Feb 2021securities registration● Neutral
Sable Offshore Corp. amended a filing by which it registered a securities offering with the SEC.
18 Feb 2021securities registration● Neutral
Sable Offshore Corp. amended a filing by which it registered a securities offering with the SEC.