Flame Acquisition announced that its shareholders have approved the company’s previously announced business combination among Flame, Sable Offshore Holdings, LLC, and Sable Offshore Corp. The deal is expected to close on or about Feb. 14. Shares of the combined company, Sable Offshore Corp., are expected to begin trading on the New York Stock Exchange on Feb. 15.
The companies entered into their agreement and plan of merger in November 2022. As part of the deal, Sable Offshore Corp. has agreed to acquire certain offshore California assets from ExxonMobil, according to Flame Acquisition. Prior to the business combination, Flame will have about $62.2 million in its trust account.
Flame Acquisition made the announcement Monday, stating that shares of the combined company would begin trading on the New York Stock Exchange on Feb. 15 after closing of the deal is expected to take place on or around Feb 14th