09:54 AM EST, 11/10/2025 (MT Newswires) -- Sable Offshore ( SOC ) said Monday it has signed subscription agreements to issue nearly 45.5 million shares in a private placement at $5.50 per share, for expected gross proceeds of about $250 million.

The private placement is expected to close on Wednesday, the company said, adding proceeds will be used for general corporate purposes.

The offering will satisfy the common equity contribution condition of a recently disclosed senior secured term loan amendment, Sable said.

Sable shares were up 24% in early trading.

Price: 6.61, Change: +1.28, Percent Change: +24.02