Sable Offshore Corp. is set to become the new name of the blank-check company Flame Acquisition following the approval of its business combination among Flame, Sable Offshore Holdings, LLC and Sable Offshore Corp. by its shareholders. The deal is expected to close on or about February 14th.
The companies entered into their agreement and plan of merger in November 2022, with Sable Offshore Corp. agreeing to acquire certain offshore California assets from ExxonMobil. Flame will have approximately $62.2 million in its trust account prior to the business combination.
Flame Acquisition announced this news Monday, stating that shares of the combined company would begin trading on the New York Stock Exchange on February 15th. This marks a significant milestone for Flame Acquisition and its partners as they continue to grow their business and expand their operations in the offshore industry.