03:30 AM EDT, 05/22/2025 (MT Newswires) -- Sable Offshore ( SOC ) said late Wednesday it priced an underwritten public offering of about 8.7 million common shares at $29.50 per share for expected gross proceeds of $256.5 million.

The underwriters have been granted a 30-day option to purchase up to 1.3 million additional shares.

Net proceeds will be used for capital expenditures, working capital and general corporate purpose, the company said.

The offering, which has been upsized from $200 million, is expected to close on Friday, subject to customary conditions.