Flame Acquisition announced that its shareholders have approved the 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.
In November 2022, the companies entered into their agreement and plan of merger. Sable Offshore Corp. has agreed to acquire certain offshore California assets from ExxonMobil, Flame Acquisition said. 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 are expected to begin trading on the New York Stock Exchange on Feb. 15.