04:23 PM EDT, 05/21/2025 (MT Newswires) -- Sable Offshore ( SOC ) said Wednesday that it launched a public offering of $200 million of its common shares.

The company will also grant the underwriters an option to buy up to an additional $30 million shares.

The oil and gas company said it plans to use the proceeds for capital expenditures, working capital purposes and general corporate purposes.

Shares of the company were down 6% in recent after-hours activity.